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Skydance Paramount is scheduled to begin significant workforce reductions beginning on 27 October, eliminating about 2,000 US jobs under a budget-saving initiative worth $2bn under CEO David Ellison.

The workforce reduction come after the union of Skydance Media and Paramount Global, completed in August valued at $8.4bn.

Further global layoffs are anticipated, with the company intending to disclose full details during its third quarter earnings report scheduled for November 10.

Previous updates stated the firm was looking to cut between 2,000 and 3,000 jobs before the start of November.

As of December 2024, the company employed almost 18,600 permanent and temporary staff and 3,500 project-based staff.

The company has not yet commented on the matter.