Paramount has initiated layoffs affecting approximately 2,000 employees, about 10% of its total workforce, shortly after completing its $8 billion merger with Skydance.

Around 1,000 layoffs occurred company-wide on a recent Wednesday, with the remaining cuts planned for a later date, according to an anonymous source.

What they’re saying: CEO David Ellison addressed the layoffs in a memo to employees, stating, “These decisions are never made lightly, especially given their effect on our colleagues who have made meaningful contributions to the company.” • Ellison explained that the workforce reductions are part of ongoing restructuring following the merger completed in August.

Driving the news: The combined company had previously indicated it would seek “opportunities to streamline its

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