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Paramount president Jeff Shell will cut $2 billion in ‘painful' belt-tightening after troubled Skydance merger

Paramount president Jeff Shell said upcoming job cuts at the newly-formed media giant will be “painful” – but they will also be quick.The former NBC Universal executive, who was tapped by David Ellison to be his top lieutenant after Paramount’s long stalled 8.4billionmergerwithSkydancefinallyclosedlastweek,expects8.4 billion merger with Skydance finally closed last week, expects 2 billion in cuts in one fell swoop.“We do not want to be a company that has layoffs every quarter,” Shell said Wednesday in Los Angeles, citing constant waves of cuts under Paramount’s ...