Paramount TV Studios is shutting down amid major layoffs and restructuring plans. President Nicole Clemens and co-CEO George Cheeks told staff that Paramount Television will cease operations at the week’s end and Clemens will exit the company, The Hollywood Reporter reported Tuesday. All current projects and series that are in development will shift over to the CBS Studios umbrella. Affected titles include “Reacher,” “Time Bandits” and “Cross.” Paramount announced during the first week of August that roughly 15% of its U.S. employees will be laid off as part of their future plans. Cheeks and f…