Paramount will be cutting 1,000 jobs this Wednesday as part of the major shakeup under new CEO David Ellison.
The incoming cuts will reportedly affect close to 2,000 employees at the company, beginning with the 1,000 impending layoffs, TheWrap reported on Monday. Additional layoffs will follow at an unspecified later date as the company, now under the ownership of Skydance, aims for a $2 billion cut in overhead costs; prior to the sale, Paramount had already aimed for a $500 million savings cut.
That included a 15% workforce reduction that impacted areas including communications, advertising and Paramount Television Studios. It also included a…
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