Skydance cuts 1,200 jobs in games division following $111bn Paramount merger

Skydance cuts 1,200 jobs in games division following $111bn Paramount merger

Skydance Interactive confirmed on Tuesday that it is laying off approximately 1,200 employees across its games division as part of a restructuring effort. The decision comes shortly after the company finalized its $111 billion acquisition of Paramount Global, which has prompted a major realignment of corporate priorities. In a statement released to employees and the public, Skydance executives explained that they have reviewed their investment strategy and determined that scaling back certain game development projects is necessary to focus resources on core priorities. The layoffs affect studios in Los Angeles, Montreal, and other key development hubs. Management indicated that affected employees will receive standard severance packages and outplacement services. The company stated that no other divisions are currently facing similar reductions as it integrates the new media assets.