Paramount Skydance started a massive wave of layoffs on Wednesday, targeting 1,000 employees, with a potential total reduction of 2,000 positions in the coming months.

CEO David Ellison emphasized the need for significant changes to build a solid and future-oriented company, including a structural reorganization. Layoffs will affect all divisions, including CBS News and the pay TV networks.

This decision comes after the merger between Paramount and Skydance, completed in August, and is part of a cost-saving plan of over 2 billion dollars. Ellison mentioned that the layoffs target roles that no longer align with the new organizational priorities. This is the first round of layoffs after the merger, and the company has also gone through staff reductions in 2024, reflecting a broader trend in the media industry, affected by the decline of traditional television and decreasing advertising revenues.