The firings mark the first major restructuring since Skydance Media completed its $8.4 billion merger with Paramount Global ...

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.

Layoff notices were being sent starting Wednesday to roughly 1,000 U.S. employees of Paramount, nearly three months after the entertainment giant’s takeover by David Ellison’s Skydance Media. Company ...