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Skydance Paramount plans to begin large-scale job cuts the week of 27 October, eliminating nearly 2,000 US jobs within a expense reduction strategy worth $2bn led by top executive David Ellison.

The workforce reduction follow the merger between Skydance Media and Paramount Global, which closed in August valued at $8.4bn.

Additional overseas workforce reductions are anticipated, as the firm aiming to announce complete information in its third-quarter financial update on 10 November.

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

By December 2024, the organization had nearly 18,600 permanent and temporary staff plus 3,500 temporary project employees.

The company has not provided a response on the matter.