Paramount president Jeff Shell will cut $2 billion in ‘painful' belt-tightening after troubled Skydance merger
1. Paramount's layoffs expected to be painful but swift, aiming for $2B in cuts. 2. CEO David Ellison emphasizes a quick restructuring process without constant layoffs. 3. Paramount acquires exclusive UFC rights deal worth $7.7B, boosting stock by 37%. 4. Stock prices fluctuated, closing at $14.38 after a recent surge.