Looking to eliminate “redundancy” and save costs, Paramount Pictures is consolidating operations in four divisions, resulting in the elimination of 53 positions worldwide.

One studio executive estimated that the move will save Paramount close to $10 million. 

The Viacom Inc.-owned studio will fold licensing and consumer products into its motion pictures promotions division, which is run by LeeAnne Stables, executive vice president of worldwide marketing partnerships.

Development and production of movies for home entertainment and digital platforms will now be overseen by Paramount Digital Entertainment President Tom Lesinski, while the distribution of movies in the digital realm will be handled by Hal Richardson, president of Paramount Pictures Worldwide Television Distribution.