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Paramount Skydance is scheduled to initiate significant workforce reductions beginning on 27 October, cutting approximately 2,000 American roles as part of a budget-saving initiative totaling $2bn under CEO David Ellison.

These job cuts follow the merger between Skydance Media and Paramount Global, which closed during August valued at $8.4bn.

More global layoffs are anticipated, with the company planning to reveal complete information during its Q3 financial results scheduled for November 10.

Previous updates stated the company was looking to cut from 2,000 and 3,000 jobs by the beginning of next month.

As of December 2024, Paramount employed almost 18,600 permanent and temporary staff and 3,500 contract workers.

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