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Paramount Skydance plans to start mass layoffs beginning on 27 October, cutting nearly 2,000 American roles as part of a budget-saving initiative totaling $2bn under CEO David Ellison.

The layoffs are a result of the merger between Skydance Media and Paramount Global, completed this past August valued at $8.4bn.

Additional international job cuts are likely, with Paramount Skydance planning to disclose all specifics during its Q3 financial results set for the 10th of November.

Earlier reports stated the company aimed to reduce between 2,000 and 3,000 roles before the start of November.

By December 2024, Paramount retained almost 18,600 workers on full-time and part-time contracts and 3,500 project-based staff.

The company did not immediately respond regarding the report.