Skydance wonders if employees would be so kind as to lay themselves off with new buyout program

Skydance, the newly formed entity after the acquisition of Warner Bros. by David Ellison and Ynon Kreiz, has implemented a new buyout program for its employees. The memo sent by the co-CEOs highlights the need for employees to start coming into the office more regularly or risk the possibility of their jobs being eliminated permanently.

This move is part of Skydance's strategy to build a company that connects with audiences in new ways. To achieve this, the company has introduced a mandatory five-day in-office workweek, with a voluntary buyout program available to those who may not prefer the new schedule. This buyout program comes as Skydance attempts to tackle the significant debt accumulated from its $110 billion purchase of the already debt-ridden Warner Bros. studio.

The generous financial backing provided by Ellison, his father, and sovereign wealth funds from Saudi Arabia, Abu Dhabi, and the UAE, allowed the acquisition to take place. However, Skydance's financial strategy now appears to center around downsizing the workforce to pay off a considerable portion of their debt. Just 363 days after the $8 billion acquisition of Paramount, which led to the dismissal of 2,000 employees, Skydance has now set its sights on initiating a similarly substantial layoff program.