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Paramount Skydance is scheduled to initiate large-scale job cuts during the week starting 27 October, removing nearly 2,000 positions in the United States within a budget-saving initiative totaling $2bn overseen by CEO David Ellison.

These job cuts come after the merger between Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.

Additional overseas workforce reductions are anticipated, as the firm intending to reveal all specifics in its third-quarter financial update on 10 November.

Earlier reports stated the firm was looking to cut between 2,000 and 3,000 positions before the start of November.

Until December 2024, the organization employed about 18,600 permanent and temporary staff along with 3,500 temporary project employees.

The company has not yet commented to a request for comment.