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Skydance Paramount plans to start large-scale job cuts the week of 27 October, cutting nearly 2,000 positions in the United States within a cost-cutting plan valued at $2bn led by top executive David Ellison.

The layoffs are a result of the combination of Skydance Media and Paramount Global, which closed during August with a value of $8.4bn.

Further overseas workforce reductions are anticipated, with Paramount Skydance aiming to reveal all specifics in its third quarter earnings report scheduled for November 10.

Previous updates suggested the company aimed to reduce from 2,000 to 3,000 positions by early November.

By December 2024, the company employed nearly 18,600 full- and part-time employees along with 3,500 temporary project employees.

The organization did not immediately respond on the matter.