NEW YORK CITY, New York: Paramount Global has already started a significant round of layoffs affecting about 2,000 employees, just months after finalizing its US$8 billion merger with Skydance, in a sweeping restructuring effort under new CEO David Ellison.

Roughly 1,000 employees were laid off on October 29, and the remaining cuts are expected to follow in the coming weeks, according to a person familiar with the matter who was not authorized to speak publicly. The job reductions represent about 10 percent of Paramount's total workforce.

"These decisions are never made lightly, especially given their effect on our colleagues who have made meaningful contributions to the company," Ellison said in a memo to staff.

The layoffs come as the newly combined entertainment giant, now known internally as the "new Paramount", works to streamline operations, consolidate departments, and pursue fresh growth opportunities following the August merger.

Ellison, who has taken an active role in reshaping the company, described the cuts as a necessary part of the ongoing restructuring process. Workforce reductions following mergers are common, and Paramount had already begun eliminating roles shortly after the deal closed.

In the months since the merger, Ellison has moved aggressively to restructure leadership and expand Paramount's content portfolio. Earlier this month, the company announced the acquisition of The Free Press, a news and commentary platform founded by Bari Weiss, who will now serve as editor-in-chief of CBS News.

The company has also been linked to potential takeover talks with Warner Bros. Discovery, owner of HBO, CNN, and DC Studios. Neither company has confirmed negotiations, but Warner recently acknowledged receiving "unsolicited interest" from several potential buyers. CNBC reported that Warner had rejected three offers from Paramount as of last week.

Ellison, the 41-year-old founder of Skydance and son of Oracle billionaire Larry Ellison, has promised a leaner, more adaptable media business capable of competing with streaming giants like Netflix and Disney.

Paramount's restructuring comes amid a broader wave of layoffs and consolidation across Hollywood as studios grapple with declining cable revenue, rising streaming costs, and shifting audience habits.