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Paramount Skydance is scheduled to start significant workforce reductions beginning on 27 October, cutting nearly 2,000 US jobs as part of a budget-saving initiative totaling $2bn under new chief executive David Ellison.

The workforce reduction follow the merger of Skydance Media and Paramount Global, completed this past August valued at $8.4bn.

Additional international job cuts are expected, as the firm aiming to announce all specifics during its Q3 financial results set for the 10th of November.

Prior news suggested the company aimed to cut between 2,000 to 3,000 roles before the start of November.

Until December 2024, the organization retained nearly 18,600 workers on full-time and part-time contracts and 3,500 contract workers.

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