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Skydance Paramount is scheduled to start significant workforce reductions beginning on 27 October, cutting approximately 2,000 US jobs within a expense reduction strategy totaling $2bn overseen by new chief executive David Ellison.

These job cuts come after the combination between Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.

Further global layoffs are anticipated, as the firm aiming to announce complete information in its third-quarter financial update scheduled for November 10.

Previous updates suggested the company was looking to cut between 2,000 and 3,000 roles by the beginning of next month.

By December 2024, the organization employed about 18,600 permanent and temporary staff and 3,500 temporary project employees.

Paramount Skydance has not yet commented regarding the report.