The Brief

Paramount Skydance will lay off about 10% of its workforce to align with "evolving priorities," CEO David Ellison said in an internal memo to employees.

The first 1,000 layoffs are happening Wednesday.

Paramount Skydance is laying off 2,000 people across its TV, film, streaming and corporate divisions, cutting the company’s workforce by about 10%, according to Variety .

What we know:

The first round of roughly 1,000 layoffs came Wednesday, with a second round expected to follow.

What we don't know:

It’s unclear when the second round of layoffs will happen. Paramount Skydance wasn’t immediately available for comment.

What they're saying:

"We want to be as open and direct as possible about the reasons behind these changes," CEO David Ellison said in the memo, accordin

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