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Skydance Paramount plans to begin significant workforce reductions beginning on 27 October, eliminating about 2,000 American roles within a budget-saving initiative worth $2bn led by new chief executive David Ellison.

The workforce reduction are a result of the merger between Skydance Media and Paramount Global, finalized during August worth $8.4bn.

Additional international job cuts are likely, as the firm intending to announce complete information via its third-quarter financial update scheduled for November 10.

Previous updates stated the company was looking to eliminate between 2,000 and 3,000 positions by the beginning of next month.

By December 2024, the organization had almost 18,600 permanent and temporary staff plus 3,500 contract workers.

Paramount Skydance did not immediately respond to a request for comment.