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Skydance Paramount plans to start mass layoffs beginning on 27 October, eliminating approximately 2,000 American roles within a cost-cutting plan worth $2bn under CEO David Ellison.

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

Additional overseas workforce reductions are likely, as the firm intending to disclose all specifics in its third quarter earnings report set for the 10th of November.

Prior news suggested the firm was looking to reduce between 2,000 to 3,000 positions by early November.

Until December 2024, the company retained nearly 18,600 permanent and temporary staff along with 3,500 contract workers.

Paramount Skydance has not yet commented regarding the report.