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Skydance Paramount plans to start large-scale job cuts during the week starting 27 October, removing nearly 2,000 positions in the United States as part of a budget-saving initiative valued at $2bn under new chief executive David Ellison.

The workforce reduction follow the union of Skydance Media and Paramount Global, finalized during August with a value of $8.4bn.

Further overseas workforce reductions are expected, as the firm intending to disclose all specifics in its third quarter earnings report on 10 November.

Previous updates had indicated the firm planned to eliminate between 2,000 to 3,000 positions by the beginning of next month.

By December 2024, the company employed nearly 18,600 full- and part-time employees plus 3,500 temporary project employees.

Paramount Skydance did not immediately respond to a request for comment.