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Paramount begins laying off 1,000 workers with another 1,000 planned as new owners pursue $2 billion in expense cuts across the company.

Cuts will affect CBS, CBS News, Comedy Central and other divisions, including the historic Melrose Avenue film studio.

L.A.’s motion picture employment has plunged 27% since 2022 as studios face streaming saturation and social media competition.

Paramount on Wednesday was expected to cut 1,000 employees, the first wave of a deep staff reduction planned since David Ellison took the helm of the entertainment company in August.

People familiar with the matter but not authorized to comment said the layoffs will be felt throughout the company, includ

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