We use to retime movies and shows when I worked at TNN.
Each network does this in house with their staffers when they recieve material not ideal for their network.
Objectional content, retiming of commercial breaks, sponsored tags and bumpers, ect.
Grinner is correct. When I worked at a local broadcast station, we would have someone in-house "format" the movies. Since it was usually cuts only, it was a job that usually went to a newer editor. The idea was that by working on that type of thing, the newer editors could learn about the "art of the edit" rather than just "the art of effects".
In reality, it usually had to be done so quickly that there was little time for an editor to get too philosophical about the cuts they made.