Paramount Global is sharpening the ax for a massive wave of staff reductions that could whack as many as 800 jobs, according to a new report.

The debt-laden entertainment giant, which has been put up for sale, will begin slashing hundreds of jobs in February, Deadline reported late Sunday.

The news follows a Wall Street Journal report in December that the company was mulling the potential elimination of more than 1,000 jobs in early 2024 to trim costs.

A spokesman for Paramount did not return requests for comment.

Shares of Paramount — which includes CBS, Hollywood studio Paramount, Showtime and MTV –rose roughly 3% to $13.81 in midday trading Monday.

Shari Redstone, the daughter of the late media mogul Sumner Redstone, owns the majority of voting shares in Paramount through her company, National Amusements.

She is also fielding offers for National Amusements as she faces a March deadline for a $37.5 million payment on a $175 million loan from Wells Fargo, The Post recently reported.

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