The changes come as Skydance TV and the former MTV Entertainment and Showtime groups come under the Paramount TV Studios banner, led by Matt Thunell.

Paramount Skydance is laying off about 10% of its workforce, achieving some of the cost savings that CEO David Ellison promised investors when he took charge of the media company over the summer.

Paramount began large scale layoffs Wednesday joining other major U.S. companies. The media conglomerate eliminated abut 1,000 U.S.-based jobs in its first round with at least another 1,000 to soon follow.

Major Paramount layoffs begin today with CEO David Ellison seeking to reposition the company and shift financial resources toward what he and his executive team see as growth opportunities. Ellison told the staff about the job cuts on Wednesday. Around 1,000 jobs are expected to be affected.

Paramount TV Studios is reorganizing its leadership team amid the mass layoffs at Paramount following its merger with Skydance.

About 1,000 roles are expected to be impacted this week, ahead of the new owner's first earnings call as Paramount CEO in November.

Paramount begins layoffs, affecting 1,000 employees post-merger with Skydance, as reported by The Associated Press.

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