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Skydance Paramount plans to begin significant workforce reductions during the week starting 27 October, cutting nearly 2,000 American roles under a cost-cutting plan totaling $2bn under new chief executive David Ellison.

The layoffs follow the combination between Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.

Additional overseas workforce reductions are anticipated, as the firm planning to disclose full details during its Q3 financial results on 10 November.

Earlier reports stated the firm aimed to reduce from 2,000 to 3,000 roles by early November.

Until December 2024, Paramount had nearly 18,600 workers on full-time and part-time contracts plus 3,500 project-based staff.

The company has not provided a response regarding the report.