Skydance Offers Voluntary Buyouts Ahead of Layoffs
The David Ellison-led media giant is also adopting an in-office policy of five days per week The post Skydance Offers Voluntary Buyouts Ahead of Layoffs appeared first on TheWrap .
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.
Written by urgent.news from TheWrap's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
