LOS ANGELES (TNS) — Paramount on Wednesday began cutting about 1,000 employees, the first wave of a deep staff reduction planned since David Ellison took the helm of the entertainment company in August.

Ellison announced the layoffs in an early morning email to his staff, saying the long-anticipated move was aimed at “building a strong foundation for the future.” Wednesday’s cuts represent about 5% of the organization. kAm“%@52J H6 368:? E96 5:77:4F=E AC@46DD @7 :?7@C>:?8 :>A24E65 E62> >6>36CD 24C@DD E96 4@>A2?J[” t==:D@? HC@E6] “%96D6 564:D:@?D 2C6 ?6G6C >256 =:89E=J[ 6DA64:2==J 8:G6? E96:C 67764E @? @FC 4@==628F6D H9@ 92G6 >256 >62?:?87F= 4@?EC:3FE:@?D E@ E96 4@>A2?J]”k^Am kAm!6@A=6 72>:=:2C H:E9 E96 >2EE6C 3FE ?@E 2FE9@C:K65 E@ 4@>>6?E D2:5 E96 =2J@77D H6C6 36:?8 76=E E9C@F89@FE E96

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