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Skydance Paramount is scheduled to initiate mass layoffs beginning on 27 October, eliminating approximately 2,000 US jobs as part of a budget-saving initiative worth $2bn overseen by new chief executive David Ellison.

The workforce reduction come after the combination between Skydance Media and Paramount Global, finalized during August with a value of $8.4bn.

Further overseas workforce reductions are likely, with the company intending to disclose complete information in its third-quarter financial update on 10 November.

Previous updates suggested the company aimed to reduce between 2,000 and 3,000 positions by early November.

Until December 2024, Paramount had almost 18,600 permanent and temporary staff and 3,500 contract workers.

Paramount Skydance has not yet commented on the matter.