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Paramount Skydance will start mass layoffs beginning on 27 October, eliminating about 2,000 positions in the United States as part of a cost-cutting plan valued at $2bn led by CEO David Ellison.

The layoffs follow the union between Skydance Media and Paramount Global, completed during August valued at $8.4bn.

More global layoffs are likely, with Paramount Skydance planning to reveal complete information via its third quarter earnings report scheduled for November 10.

Prior news had indicated that Paramount aimed to eliminate from 2,000 and 3,000 jobs before the start of November.

By December 2024, Paramount employed almost 18,600 full- and part-time employees along with 3,500 temporary project employees.

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