In the latest ripple effect of Viacom corporate restructuring, Paramount Worldwide Home Media Distribution President Dennis Maguire is exiting his post.
Maguire’s departure comes on the heels of 20 to 40 employees who were let go on Wednesday.
“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.
Maguire has been at his position since 2009, after joining the studio as President of Home Entertainment International in 2006. He was upped to President of Worldwide Home Entertainment in 2009 before landing as President of Worldwide Home Media in 2011.