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Paramount Skydance will begin large-scale job cuts during the week starting 27 October, eliminating approximately 2,000 American roles under a budget-saving initiative valued at $2bn overseen by new chief executive David Ellison.

These job cuts come after the union of Skydance Media and Paramount Global, which closed in August valued at $8.4bn.

Additional international job cuts are expected, with Paramount Skydance planning to reveal complete information via its Q3 financial results scheduled for November 10.

Prior news suggested the company was looking to eliminate between 2,000 to 3,000 roles by early November.

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

Paramount Skydance has not provided a response regarding the report.