Skydance Targets $6B in Savings by 2028, Says Cuts Include Jobs
Co-CEO Ynon Kreiz said the $6 billion cost-savings plan involves some workforce reductions, handled respectfully and transparently.
Skydance co-CEO Ynon Kreiz said the company's plan to reach $6 billion in cost savings will involve some workforce reductions, according to Deadline.
Kreiz said the cuts will be carried out respectfully and transparently, with communication, and that labor is not the majority of the savings.
He said the savings will come from technology, marketing consolidation, real estate optimization and some labor. The target is to reach the $6 billion figure by the end of 2028.
Kreiz described the effort as reengineering how the company works and reinventing its business model, rather than only reducing costs. The co-CEOs said in the interview that the savings number could end up being greater than $6 billion.
In 2026, the merger between Paramount and Warner Bros. Discovery closed, with the combined companies now called Skydance.
Quick answers
How much does Skydance plan to save?
Skydance is targeting $6 billion in cost savings by the end of 2028, and the co-CEOs said the number could be greater.
Will the cost-savings plan include job cuts?
Yes. Co-CEO Ynon Kreiz said workforce reductions are part of the plan and will be handled respectfully and transparently, though labor is not the majority of the savings.