Paramount cut approximately 1,000 jobs on Wednesday, with another 1,000 expected "swiftly" in a massive headcount reduction designed to address "redundancies that have emerged" after the company’s $8 billion merger with Skydance.

Layoffs have been expected since the industry-changing merger put CEO David Ellison in charge of the newly formed Paramount, a Skydance Corporation, in August. Roughly 1,000 positions were eliminated Wednesday and the company plans to slash another 1,000 in the near future, according to a source familiar with the company’s plans. The cuts are companywide, and the first round primarily impacts staffers based in the United States.

"When we launched the new Paramount in August, we made clear that building a strong, future-focused company would require significan

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