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Paramount Skydance plans to initiate significant workforce reductions the week of 27 October, removing nearly 2,000 US jobs within a cost-cutting plan totaling $2bn under top executive David Ellison.

The layoffs come after the combination of Skydance Media and Paramount Global, which closed during August valued at $8.4bn.

Additional overseas workforce reductions are likely, with Paramount Skydance intending to reveal all specifics via its third quarter earnings report on 10 November.

Previous updates stated the company planned to cut from 2,000 and 3,000 positions before the start of November.

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

The company has not provided a response on the matter.