Paramount on Wednesday began cutting about 1,000 employees, the first wave of a deep staff reduction planned since David Ellison took the helm of the entertainment company in August.

Ellison announced the layoffs in an early morning email to his staff, saying the long-anticipated move was aimed at “building a strong foundation for the future.” Wednesday’s cuts represent about 5% of the organization.

“Today we begin the difficult process of informing impacted team members across the company,” Ellison wrote. “These decisions are never made lightly, especially given their effect on our colleagues who have made meaningful contributions to the company.”

People familiar with the matter but not authorized to comment said the layoffs were being felt throughout the organization, including at CBS

See Full Page