Paramount Skydance reportedly targeting its massive one-time job cuts in early November

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Paramount Skydance (NASDAQ:PSKY [https://seekingalpha.com/symbol/PSKY]) is expected to conduct a massive round of layoffs in early November, according to a report by _The New York Post _on Friday, citing sources.

One source familiar with the matter told _The Post _that company president Jeff Shell, formerly the top boss at NBCUniversal, has told managers at Paramount Pictures, CBS, MTV, and Showtime to start compiling "kill lists."

The lists will be submitted in October, and layoffs will start in early November, sources told NYP.

The report said the cuts will coincide with the company's third-quarter earnings, as well as an investor presentation by new management.

"It’s going to be a bloodbath. It’s going to be ugly," according to a source who told NYP.

In a press conference last week, Shell told journalists that the cuts will be "painful" but will occur in one shot, unlike multiple rounds of layoffs under the previous management.

“We do not want to be a company that has layoffs every quarter,” Shell said at the LA presser last week. "So, it’s going to be painful… It is important for us to get done what we’re doing in one big thing and then be done with it."

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