• The Wrap, Monday, October 4, 2010 12:21 AM

Paramount is laying off 53 workers and consolidating its licensing/consumer products and film-promotion divisions. Paramount is also restructuring its direct-to-DVD productions and folding them into its digital division, while moving digital distribution of theatrical titles under its TV distribution operations.

Studio officials say the consolidations will save Paramount about $10 million annually. The moves reflect the retrenchment of Paramount following its divorce from DreamWorks, with the studio now producing and distributing fewer films. Under the restructuring, Paramount's licensing and consumer products unit will be merged with the motion picture promotions department overseen by LeeAnne Stables, EVP of worldwide marketing partnerships.

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