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Paramount Skydance plans to start significant workforce reductions the week of 27 October, eliminating nearly 2,000 positions in the United States under a cost-cutting plan valued at $2bn led by CEO David Ellison.

The workforce reduction are a result of the merger of Skydance Media and Paramount Global, completed this past August worth $8.4bn.

More overseas workforce reductions are likely, as the firm aiming to announce complete information during its third quarter earnings report set for the 10th of November.

Earlier reports suggested the firm aimed to reduce between 2,000 to 3,000 roles before the start of November.

Until December 2024, Paramount employed nearly 18,600 permanent and temporary staff along with 3,500 temporary project employees.

Paramount Skydance has not yet commented to a request for comment.