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Paramount Skydance plans to start mass layoffs during the week starting 27 October, eliminating approximately 2,000 positions in the United States within a cost-cutting plan worth $2bn under top executive David Ellison.

The layoffs follow the combination between Skydance Media and Paramount Global, finalized this past August worth $8.4bn.

Additional overseas workforce reductions are expected, with Paramount Skydance intending to disclose full details in its third quarter earnings report set for the 10th of November.

Prior news suggested the firm was looking to reduce from 2,000 to 3,000 jobs by the beginning of next month.

As of December 2024, Paramount employed nearly 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.

Paramount Skydance did not immediately respond regarding the report.