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Paramount Skydance will initiate significant workforce reductions the week of 27 October, eliminating approximately 2,000 US jobs as part of a expense reduction strategy worth $2bn led by CEO David Ellison.

These job cuts follow the union between Skydance Media and Paramount Global, completed in August valued at $8.4bn.

Further overseas workforce reductions are anticipated, with the company planning to reveal all specifics via its Q3 financial results on 10 November.

Earlier reports had indicated the firm aimed to cut between 2,000 to 3,000 roles by early November.

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

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