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Paramount Skydance is scheduled to initiate large-scale job cuts during the week starting 27 October, eliminating approximately 2,000 US jobs as part of a expense reduction strategy valued at $2bn overseen by CEO David Ellison.

The layoffs are a result of the combination of Skydance Media and Paramount Global, which closed during August worth $8.4bn.

More overseas workforce reductions are likely, with Paramount Skydance planning to disclose all specifics via its third quarter earnings report on 10 November.

Prior news suggested the firm aimed to cut between 2,000 and 3,000 jobs before the start of November.

By December 2024, the company retained almost 18,600 permanent and temporary staff and 3,500 contract workers.

The organization has not provided a response regarding the report.