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Paramount Skydance is scheduled to begin significant workforce reductions the week of 27 October, eliminating approximately 2,000 positions in the United States within a budget-saving initiative worth $2bn led by top executive David Ellison.

The workforce reduction come after the union between Skydance Media and Paramount Global, completed during August valued at $8.4bn.

Further global layoffs are expected, with Paramount Skydance aiming to reveal complete information via its third-quarter financial update set for the 10th of November.

Earlier reports stated that Paramount aimed to cut from 2,000 and 3,000 jobs by early November.

Until December 2024, Paramount retained about 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.

Paramount Skydance has not yet commented regarding the report.