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Skydance Paramount is scheduled to begin significant workforce reductions beginning on 27 October, eliminating nearly 2,000 US jobs under a budget-saving initiative worth $2bn overseen by new chief executive David Ellison.

These job cuts follow the combination between Skydance Media and Paramount Global, finalized during August with a value of $8.4bn.

Additional global layoffs are anticipated, with Paramount Skydance intending to announce complete information via its third quarter earnings report set for the 10th of November.

Earlier reports had indicated the firm planned to reduce from 2,000 and 3,000 roles by the beginning of next month.

Until December 2024, Paramount had about 18,600 workers on full-time and part-time contracts plus 3,500 project-based staff.

Paramount Skydance has not provided a response on the matter.