Paramount Pictures’ television production unit is shutting down, Bloomberg and Variety reported, citing an internal memo from the media company. The decision is part of a slew of restructuring measures being taken by Paramount Global to cut costs.

“This is a challenging time for the entire entertainment industry, and unfortunately our studio is not immune to these developments,” TV studio president Nicole Clemens wrote to employees.

American cable television was once a reliable revenue model for Hollywood, but viewers and advertising dollars are increasingly moving to streaming.

Current projects are at CBS Studios, part of the same parent company. Paramount Television is currently working on projects such as Expresses For prime video and series before and robot killer For Apple TV.

In recent years, the studio has produced series such as 13 Reasons Why, The Haunting of Hill House, Jack Ryan and The one who arrived.

It’s not the only major move Paramount Global is making. The company previously announced it would lay off nearly 2,000 employees, or about 15 percent of all jobs within the company. The company wants to cut costs by $500 million annually.