A second round of cuts is expected to follow later. According to previous information, the company will cut a total of 2,000 jobs.
The merger of the companies was completed in August after the deal was approved by American authorities.
The company management, with CEO David Ellison at the helm, has been clear that rapid changes are expected – to reduce costs and streamline operations.
Paramount had 18,600 full- and part-time employees in December last year and Skydance has just over 500.
With the merger, Skydance is investing over eight billion dollars in economically pressured Paramount.
Skydance owns film brands such as "Mission: Impossible" and "Transformers", while TV channels such as CBS, MTV and Nickelodeon are in Paramount's portfolio.
