The film's release date of December 22nd Stateside is expected to be met with new scenes shot over the coming weeks.
It's not entirely clear how Scott ("Blade Runner") will go about inserting Plummer into Spacey's scenes in such a short amount of time, but some use of digital effects are is good bet.
All The Money In The World was originally set to premiere at the American Film Institute's film festival on 16 November, but the release was pushed back to 22 December after the allegations against Spacey surfaced.
The decision to remove Spacey from All the Money in the World was made by Scott along with Imperative Entertainment's Dan Friedkin and Bradley Thomas, with the cast and crew of the film, Sony Pictures, as well as Williams and Mark Wahlberg cooperating.
Kevin Spacey is being cut out of a movie just weeks before its release.
The Black List screenplay, written by David Scarpa, centers on the 1973 kidnapping in Italy of J. Paul Getty III - the rebellious teenage grandson of oil billionaire J. Paul Getty, who was reluctant to pay the $17 million ransom demanded by the kidnappers.
But rather than push the film to 2018, Deadline reports that Sony is cutting Spacey out of the movie, reshooting his scenes with Oscar victor Christopher Plummer, and keeping the film's December release date.
Plummer "was reportedly Scott's first choice for the role of Getty, but the director was pressured into casting a bigger name", The Guardian reports. This comes following sexual assault and harassment allegations against Spacey.
Several other allegations of misconduct have since surfaced, including a claim by US TV presenter Heather Unruh that the actor groped her 18-year-old son in a bar last year. Not only was he recast in All the Money in the World, he was also fired from Netflix's House of Cards.
"But if I did behave then as he describes, I owe him the sincerest apology for what would have been deeply inappropriate drunken behaviour, and I am sorry for the feelings he describes having carried with him all these years".