Paramount Skydance is laying off 1,000 employees this week, a source familiar says. CEO David Ellison wants to deliver about $2 billion in savings.

The restructuring comes two and a half months after David Ellison's Skydance Media completed its acquisition of Paramount.

Paramount will lay off roughly 2,000 workers across the media company beginning on Wednesday. Chief executive David Ellison said in a memo to employees that the layoffs were focused on “addressing redundancies” at the company and to accommodate its shifting priorities.

In long-awaited cuts just months after completing its $8 billion merger with Skydance, Paramount has begun layoffs set to impact about 2,000 employees

Paramount began a sweeping round of layoffs on Wednesday, according to a memo from CEO David Ellison, just months after the Trump administration greenlit its controversial $8 billion merger with Skydance,

Layoffs are coming down at Paramount Skydance this week, with the freshly merged company looking to slash approximately 1,000 jobs primarily in the U.S. on Wednesday, Oct. 29, Variety has confirmed. Following this week’s cuts,

Paramount Skydance just cut about 1,000 employees. Read the memo that CEO David Ellison sent to staffers about the layoffs.