Skydance offers buyouts and orders five-day office return

Summarised from 2 outlets · Updated 27 Oct, 15:14 · Archive

Skydance is offering voluntary buyouts to eligible employees and imposing a five-day return-to-office mandate.

Skydance has announced a voluntary buyout programme for eligible employees as it restructures following its merger with Warner Bros. Discovery. The buyout offers are being extended to employees with at least 15 years of experience at the company, at vice-president rank or lower, who are 'at will' workers and meet certain geographic criteria. Eligible employees will receive individualised offers spelling out their terms and a window to decide whether to accept the one-time package.

The media company has also imposed a five-day return-to-office mandate across its operations. Co-CEOs David Ellison and Ynon Kreiz, who joined the company this month from Mattel, announced both measures in an internal memo on Monday. 'As we bring our teams together, we recognise that not everyone will see their future here, and we respect that,' the memo stated.

The Paramount-Skydance merger with Warner Bros. closed on 6 October and created a company with over $80 billion in debt. An August report commissioned by Los Angeles County suggested the merger could result in the loss of about 4,500 film and TV jobs in Los Angeles over three years, according to UPI. Skydance has not publicly announced the number of job cuts it is planning.

Skydance offers buyouts and orders five-day office return — Image: UPI

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How it is being reported

Skydance to offer employee buyouts, demand in-office workSkydance co-CEOs David Ellison and Ynon Kreitz announced Monday via memo that the company will offer some employees a voluntary buy-out program.UPI · 27 Oct, 14:55
David Ellison’s Skydance unveils employee buyout program, orders five-day return to officeCompanywide memo was signed by Ellison and Skydance co-CEO Ynon Kreiz, the former Mattel chief who joined the company earlier this month.New York Post · 26 Oct, 19:15

In this story: David Ellison · Ynon Kreiz · Skydance · Warner Bros. Discovery · Paramount

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