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Paramount Skydance is scheduled to begin mass layoffs during the week starting 27 October, eliminating about 2,000 US jobs as part of a expense reduction strategy worth $2bn under CEO David Ellison.

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

Additional overseas workforce reductions are anticipated, as the firm aiming to disclose full details during its third-quarter financial update set for the 10th of November.

Previous updates stated the firm was looking to eliminate from 2,000 and 3,000 jobs by the beginning of next month.

By December 2024, the organization had nearly 18,600 full- and part-time employees and 3,500 temporary project employees.

The organization did not immediately respond regarding the report.