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Paramount Skydance is scheduled to begin large-scale job cuts beginning on 27 October, removing approximately 2,000 positions in the United States under a budget-saving initiative valued at $2bn overseen by CEO David Ellison.

The layoffs come after the union between Skydance Media and Paramount Global, which closed in August valued at $8.4bn.

Further overseas workforce reductions are anticipated, with Paramount Skydance planning to announce complete information during its third-quarter financial update scheduled for November 10.

Prior news suggested the company planned to cut from 2,000 to 3,000 jobs by early November.

Until December 2024, Paramount retained nearly 18,600 permanent and temporary staff plus 3,500 contract workers.

Paramount Skydance has not provided a response to a request for comment.