Paramount on Wednesday began laying off more than 2,000 employees, a long-awaited consequence of its merger with the Hollywood studio Skydance.

Paramount Skydance just cut about 1,000 employees. Read the memo that CEO David Ellison sent to staffers about the layoffs.

The widely anticipated job cuts come just months after the Trump administration greenlit the creation of the company following Skydance’s bid for the storied entertainment group.

Warner Bros. Discovery, on the other hand, is now officially for sale. Comcast, Apple, and Netflix are all interested in making takeover approaches, and Warner Bros. Discovery CEO David Zaslav and the board have started a formal assessment of these bids.

With the president’s blessing, the Ellisons’ Skydance merged with Paramount, gaining control of CBS News. Now the new giant might gobble up Warner Bros. Discovery, which includes CNN.

Barry Diller, the entertainment mogul who led Paramount for a decade in its heyday, said in an email, “Most people, coming into senior executive positions, on scrutiny, fail to impress. David Ellison, on scrutiny, continues to impress.”

Paramount CEO David Ellison wants to merge the content library of HBO Max into Paramount Plus, according to a report published this week.

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