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Paramount Skydance will start mass layoffs beginning on 27 October, cutting about 2,000 positions in the United States within a cost-cutting plan valued at $2bn under new chief executive David Ellison.

The workforce reduction are a result of the merger between Skydance Media and Paramount Global, completed this past August worth $8.4bn.

Additional international job cuts are likely, with Paramount Skydance planning to reveal complete information via its third-quarter financial update scheduled for November 10.

Earlier reports had indicated the firm was looking to cut between 2,000 to 3,000 positions before the start of November.

Until December 2024, the organization employed about 18,600 full- and part-time employees and 3,500 project-based staff.

Paramount Skydance has not yet commented regarding the report.