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Skydance Paramount is scheduled to start mass layoffs during the week starting 27 October, cutting about 2,000 positions in the United States within a budget-saving initiative totaling $2bn under top executive David Ellison.

The layoffs are a result of the merger between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.

More overseas workforce reductions are anticipated, as the firm intending to announce complete information in its third-quarter financial update scheduled for November 10.

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

Until December 2024, the organization employed about 18,600 full- and part-time employees and 3,500 temporary project employees.

Paramount Skydance has not provided a response to a request for comment.