Paramount Pictures has stated that it plans to lay off about 110 positions in the financial and marketing department as part of the film studio's realignment, a memo sent to employees revealed, as reported by Reuters.
The layoffs represent about 5 percent of the studio's 2,200 employees that work on the movie lot or in international locations.
"As our industry continues to adapt to an increasingly competitive environment, we are always ensuring that Paramount is conducting its business as efficiently and as productively as possible. As such we are making important and necessary changes in how we operate across several business functions," read the memo.
The specific areas being slashed include human resources, information technology, international home media distribution.
Paramount Pictures has released noted films like "The Godfather," Chinatown" and Brad Pitt's recent blockbuster thriller "World War Z," which grossed 539 million wordwide, according to Box Office Mojo's web site.
A shakeup at Focus Features is also taken place, as FilmDistrict founder and CEO Peter Schlesser will be named its CEO effective January 2014, Indiewire reported. James Schamus, who co-founded the company over 12 years ago, will leave the company to work with director Ang Lee on his next film, which the two are producing and developing at Universal, news reports said.
Focus Features has released award-winning films like "The Pianist" and "Eternal Sunshine of the Spotless Mind."
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