Skydance Is Offering Employees Voluntary Buyouts Ahead of Layoffs, Adopts 5-Days-per-Week In-Office Policy
Skydance, as it embarks on the work to integrate the businesses of Paramount and Warner Bros. Discovery, is offering certain employees a voluntary buyout in a “one-time offer.” The new program was outlined by chairman and CEO David Ellison and co-CEO Ynon Kreiz in a memo to staffers Monday. “As we bring our teams together, […]
Skydance is offering voluntary buyouts to certain employees as the company consolidates Paramount and Warner Bros. Discovery following the $110 billion merger. Co-CEOs David Ellison and Ynon Kreiz informed staff of the one-time "Voluntary Buyout (VBO) Program" in a memo, stating that those eligible will receive personalized details and terms.
The company is also implementing a mandatory, five-day-a-week in-office policy, with a phased approach by location to allow time for planning and adjustment. Skydance aims to save over $6 billion, with a significant portion coming from "non-labor" sources such as optimizing real estate and merging streaming technology. The co-CEOs emphasized that the changes are necessary to build a company that tells stories loved worldwide and embraces new ways to connect with audiences.
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