Paramount Skydance will begin cutting nearly 1,000 jobs on Wednesday, just months after completing its merger.

The total layoffs are expected to reach 2,000 positions, according to CNBC, citing a source familiar with the matter.

“When we launched the new Paramount in August, we made clear that building a strong, future-focused company would require significant change – including restructuring the organization,” CEO David Ellison told employees in a memo on Wednesday morning.

“As part of that process, we must also reduce the size of our workforce, and we recognize these actions affect our most important asset: our people.”

The merger between Paramount and Skydance was finalized in August, shortly after gaining long-awaited regulatory approval from the United States Federal Communications Commission.

Soon after the deal closed, Ellison and Paramount leadership signaled the forthcoming job reductions, citing over $2 billion in potential cost synergies.

In a memo issued Wednesday, Ellison explained that the cuts aim to eliminate “redundancies that have emerged across the organization” and to phase out positions “no longer aligned with our evolving priorities and the new structure designed to strengthen our focus on growth.”