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Skydance Paramount is scheduled to begin significant workforce reductions during the week starting 27 October, removing approximately 2,000 positions in the United States as part of a budget-saving initiative valued at $2bn overseen by top executive David Ellison.

The workforce reduction come after the union of Skydance Media and Paramount Global, completed this past August worth $8.4bn.

More overseas workforce reductions are expected, with the company aiming to announce full details via its third-quarter financial update set for the 10th of November.

Prior news suggested that Paramount planned to cut from 2,000 and 3,000 roles by the beginning of next month.

Until December 2024, the organization retained about 18,600 full- and part-time employees plus 3,500 contract workers.

The company has not provided a response on the matter.