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Paramount Skydance is scheduled to initiate mass layoffs beginning on 27 October, removing nearly 2,000 US jobs under a budget-saving initiative valued at $2bn under top executive David Ellison.

The workforce reduction are a result of the union between Skydance Media and Paramount Global, completed during August valued at $8.4bn.

More global layoffs are expected, with Paramount Skydance intending to announce full details during its third quarter earnings report on 10 November.

Previous updates stated the firm aimed to eliminate between 2,000 and 3,000 roles by the beginning of next month.

As of December 2024, the company employed about 18,600 workers on full-time and part-time contracts and 3,500 contract workers.

The company did not immediately respond to a request for comment.