Skydance plans $6 billion savings through streaming and studio consolidation
Business
Skydance is shaking things up to save $6 billion over the next three years, mainly by combining its streaming and studio teams.
With a huge expense base topping $50 billion, it's aiming to cut costs and work smarter across the company.
Skydance launches buyouts and cuts jobs
The plan includes cutting overlapping jobs, using AI to streamline work, and tightening up marketing, which together should save billions.
It's also centralizing purchases and merging tech systems for streaming and broadcast.
On top of that, Skydance has started employee buyouts, brought in a five-day office week, seen some executive changes, and is planning a Paramount+ and HBO Max bundle next year.
Its latest adjusted EBITDA? A solid $1 billion last quarter.