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Skydance Paramount plans to begin significant workforce reductions during the week starting 27 October, removing nearly 2,000 positions in the United States as part of a cost-cutting plan totaling $2bn under top executive David Ellison.

The layoffs are a result of the merger between Skydance Media and Paramount Global, which closed in August with a value of $8.4bn.

More global layoffs are anticipated, as the firm planning to announce all specifics via its third-quarter financial update set for the 10th of November.

Prior news stated that Paramount planned to reduce between 2,000 and 3,000 jobs by early November.

By December 2024, the organization had about 18,600 full- and part-time employees plus 3,500 contract workers.

The company has not provided a response on the matter.