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Skydance Paramount will initiate large-scale job cuts beginning on 27 October, eliminating nearly 2,000 American roles as part of a budget-saving initiative worth $2bn overseen by new chief executive David Ellison.

The layoffs come after the merger of Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.

Additional global layoffs are likely, with Paramount Skydance planning to reveal complete information during its third-quarter financial update on 10 November.

Earlier reports had indicated that Paramount was looking to cut between 2,000 to 3,000 positions by the beginning of next month.

As of December 2024, the company had about 18,600 workers on full-time and part-time contracts and 3,500 contract workers.

The organization has not provided a response regarding the report.