Paramount Skydance Monday fell short of Wall Street estimates for revenue in the first quarterly results for the combined company since the completion of the $8.4 billion merger.

The company said it will also cut about 1,600 jobs as part of a strategic review, in addition to the 1,000 employees it laid off in late October.

It reported revenue of $6.7 billion for the third quarter, compared with estimates of $6.97 billion, according to data compiled by LSEG.