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Paramount Skydance plans to initiate large-scale job cuts the week of 27 October, cutting nearly 2,000 American roles under a budget-saving initiative valued at $2bn led by new chief executive David Ellison.

These job cuts follow the combination between Skydance Media and Paramount Global, finalized in August worth $8.4bn.

Further international job cuts are anticipated, with the company aiming to disclose complete information in its third-quarter financial update set for the 10th of November.

Earlier reports stated that Paramount aimed to reduce from 2,000 to 3,000 jobs by the beginning of next month.

By December 2024, Paramount employed about 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.

The organization has not yet commented on the matter.