Paramount began large scale layoffs Wednesday joining other major U.S. companies. The media conglomerate eliminated abut 1,000 U.S.-based jobs in its first round with at least another 1,000 to soon follow.

The new structure comes as the media giant is laying off 1,000 employees, with more cuts to come at a later date

The changes come as Skydance TV and the former MTV Entertainment and Showtime groups come under the Paramount TV Studios banner, led by Matt Thunell.

Paramount Skydance is laying off about 10% of its workforce, achieving some of the cost savings that CEO David Ellison promised investors when he took charge of the media company over the summer.

Paramount Skydance is laying off about 1,000 employees. Chairman and CEO David Ellison sent employees a memo about the companywide cuts.

About 1,000 roles are expected to be impacted this week, ahead of the new owner's first earnings call as Paramount CEO in November.

As Paramount begins cleaning house under new CEO David Ellison, Paramount Animation‘s President Ramsey Naito is the latest to step down from the company. Below is her note to staff this evening: Team,

Colin Farrell revealed to Stephen Colbert on “The Late Show” that Tom Cruise “was not happy” with him during the making of Steven Spielberg’s “Minority Report.” Farrell was in the midst of his substance abuse struggles during production and went out partying the night before his birthday, which happened to be a filming day. “I …