Layoffs Hit Paramount Pictures as Viacom Restructuring Continues

Paramount Pictures is the latest arm of Viacom to feel the effects of restructuring, with 20 to 40 employees let go on Wednesday, TheWrap has learned.

“The personnel changes made today are part of Viacom’s previously announced restructuring effort. These changes are designed to realign resources and create efficiencies in line with the evolving business environment,” a spokesperson for the studio said in a statement.

Paramount isn’t the only arm of the media giant to feel the effects of downsizing. On Monday, up to 12 percent of the workforce at MTV Networks was dismissed, including legacy employees at the channel.

Also Read: CMT Lays Off New York Staff Amid Network's 'Family Friendly' Realignment (Exclusive)

Viacom CEO Philippe Dauman indicated the layoffs would be coming in the first quarter of 2015.

“We are rapidly adapting our processes and business as well as human, financial and technological resources to increase focus on new high potential areas,” Dauman said on a January investors call.

“It is clear that this transition will require some organizational realignment, as well as rationalization of content that no longer meets our goals.”

In addition to MTV and Paramount, TheWrap exclusively reported realignment at Viacom’s CMT channel.

Deadline.com reported this news first.

TheWrap's 25 Most Anticipated Movies of 2015: From 'Fifty Shades' to 'Star Wars' and 'Spectre'

"The Last Five Years"

Release Date: Feb. 13, 2015

Anna Kendrick continues her streak of musical roles with this big-screen adaptation of Jason Robert Brown's beloved Off-Broadway hit. "Smash" alum Jeremy Jordan co-stars. Trailer
Radius-TWC
"Fifty Shades of Grey"

Release Date: Feb. 13, 2015

Jamie Dornan and Dakota Johnson's characters are set to become the next cinematic power couple in this highly anticipated adaptation of E.L. James' "mommy porn" hit. Trailer
Focus Features
"In the Heart of the Sea"

Release Date: March 13, 2015

Chris Hemsworth plays dashing first mate aboard the Essex, the real ship attacked by a giant whale that inspired literary classic "Moby Dick." Trailer
"Furious 7"

Release Date: April 3, 2015

Paul Walker rides one last time with Vin Diesel and his "Fast and Furious" family. We're eager to see how they say goodbye to Brian O'Conner. Trailer
Universal
"Avengers: Age of Ultron"

Release Date: May 1, 2015

The Avengers return -- much to everyone's delight. Admit it, including yours. Trailer
Marvel/Disney
"Pitch Perfect 2"

Release Date: May 15, 2015

Aca-awesome, the Barden Bellas are back! This time the a cappella troupe competes against international singers. High jinks ensue on a global scale. Trailer
"Mad Max: Fury Road"

Release Date: May 15, 2015

Its Comic-Con panel blew the roof off the place, and Tom Hardy, Charlize Theron and Nicholas Hoult look completely off the chain in the franchise's latest installment. Trailer
Warner Bros
"Tomorrowland"

Release Date: May 22, 2015

Brad Bird's highly secretive and highly anticipated project stars George Clooney as an inventor and rising star Britt Robertson as a teen who gets transported ... somewhere. Trailer
Disney
"Jurassic World"

Release Date: June 12, 2015

It's been way too long since there's been a "Jurassic Park" movie, and the franchise seems to be in extremely capable hands led by star Chris Pratt, who's proving to be our new favorite action hero. Trailer
Universal
"Magic Mike XXL"

Release Date: July 1, 2015

Channing Tatum, Matt Bomer and Joe Manganiello in a sequel to the stripping sleeper hit "Magic Mike" that's subtitled "Double Extra Large." So, yeah, we're excited. Look out for new cast and cameos in Amber Heard, Elizabeth Banks and Donald Glover.

Warner Bros.
"Ant-Man"

Release Date: July 17, 2015

Marvel rarely misses a step, and their latest stars unlikely superhero Paul Rudd -- who pretty much guarantees cinematic hilarity. Trailer
Marvel/Disney
"Fantastic Four"

Release Date: Aug. 7, 2015

We have not seen a single still, behind-the-scenes photo or frame of video, but with Josh Trank ("Chronicle") directing this cast, we're betting Fox gets "Fantastic Four" right this time.
Getty Images
"Crimson Peak"

Release Date: Oct. 16, 2015

Guillermo del Toro returns to his horror genre roots with a haunted house pic and an amazing cast including Jessica Chastain, Charlie Hunnam, Tom Hiddleston and Mia Wasikowska. In Victorian garb.
Universal
"Spectre"

Release Date: Nov. 6, 2015

"Bond 24" no more, Daniel Craig, Sam Mendes and the whole gang are back for one more James Bond romp, welcoming newcomers Christoph Waltz, Lea Seydoux and Monica Bellucci.
Getty Images
"The Martian"

Release Date: Nov. 25, 2015

It's described as a cross between "Gravity" and "Castaway" and stars Matt Damon with Ridley Scott directing. Everything about "The Martian" screams prestige.
Getty Images
"The Hunger Games: Mockingjay Part 2"

Release Date: Nov. 20, 2015

Though we're tired of books being split into multiple movies, there's no denying Jennifer Lawrence is still electrifying as Katniss Everdeen.
Lionsgate
"Star Wars: The Force Awakens"

Release Date: Dec. 18, 2015

It's a new "Star Wars" movie. We've only been waiting 10 years. Trailer
Disney
"The Revenant"

Release Date: Dec. 25, 2015

Leonardo DiCaprio and Tom Hardy reunite to star in Alejandro Gonzalez Inarritu's "Birdman" follow-up, a revenge thriller set in the Western frontier. Is it too early to start taking Oscar bets?
Getty Images
"Joy"

Release Date: Dec. 25, 2015

David O. Russell and Jennifer Lawrence are back together once again, which means it's time for another wacky, outlandish, probably Oscar-nominated film, this time about the inventor of Miracle Mop.
Getty Images
"Sicario"

Release Date: TBD

Denis Villeneuve is on a roll after the one-two punch of "Enemy" and "Prisoners" and this follow-up, starring Emily Blunt as a DEA agent, seems plenty promising.
Getty Images
"Southpaw"

Release Date: TBD

Following "Nightcrawler," Jake Gyllenhaal is on quite a hot streak and totally transformed himself (again) to play a boxer in Antoine Fuqua's latest gritty drama.
Weinstein Company
"Hateful Eight"

Release Date: TBD

Quentin Tarantino rarely gets it wrong, and the juicy history of the making-of this one makes it especially must-watch.
Weinstein Company
"Macbeth"

Release Date: TBD

"Snowtown" director Justin Kurzel does a revisionist take Shakespeare's classic with Michael Fassbender and Marion Cotillard. This one is a no-brainer.
Weinstein Copmany
"Beasts of No Nation"

Release Date: TBD

Cary Fukunaga returns to features after an incredible run on HBO's "True Detective," and he's bringing Idris Elba with him, making this a must-watch on so many levels.
Focus Features
"Dark Places"

Release Date: TBD

Amazing "Gone Girl" raised anticipation for "Dark Places," also based on a Gillian Flynn bestseller. Add Oscar-winner Charlize Theron as another dangerous and mysterious anti-heroine, and we can't wait to peel back the layers.
A24

1 of 25

Two Anna Kendrick musicals, Paul Walker’s final ”Fast and Furious“ and 22 more movies we can’t wait to see

"The Last Five Years"

Release Date: Feb. 13, 2015

Anna Kendrick continues her streak of musical roles with this big-screen adaptation of Jason Robert Brown's beloved Off-Broadway hit. "Smash" alum Jeremy Jordan co-stars. Trailer

View In Gallery

TheWrap's 25 Most Anticipated Movies of 2015: From 'Fifty Shades' to 'Star Wars' and 'Spectre'

7DAYFREETRIAL

7
DAY
FREE
TRIAL