Ingrid Ciprian-Matthews is stepping down as president of CBS News ahead of budget cuts expected from the division’s new ownership.

Cost-reductions at Paramount Global were already planned before the company agreed to merge with David Ellison’s entertainment company Skydance Media in an $8-billion deal announced Sunday. But larger cuts are now expected with the coming merger, as Skydance executives have said they are looking for $2 billion in savings.

Ciprian-Matthews is a 30-year veteran of CBS News, where she was named president in August. She hinted at the changes ahead in a note sent Wednesday to her staff.

“We all know our industry and company are going through a transformation and a number of short- and long-term decisions need to be made,” her note said. “I do not want to be disingenuous with any of you about who should drive these decisions. I’ve always leaned into my integrity and my values and I felt it was important to be transparent at this juncture about my plans.”

Ciprian-Matthews will stay with CBS News as a senior editorial advisor for the network’s election coverage. Following the election, she will leave the company.

No successor has been named for Ciprian-Matthews, who reported to Wendy McMahon, chief executive of CBS News and Stations and CBS Media Ventures.

Ciprian-Matthews is the second major broadcast news president to step down this year. Kim Godwin resigned from ABC News after a rocky three-year tenure. No replacement has been made.

This week, the National Assn. of Hispanic Journalists is inducting Ciprian-Matthews into its Hall of Fame.