Skydance launches voluntary buyout program and mandates five-day office work schedule
Skydance announced a one-time voluntary buyout offer for eligible staff and a company-wide five-day-per-week in-office policy as it integrates the Paramount and Warner Bros. Discovery businesses.
Skydance said it will offer a voluntary buyout (VBO) program to eligible employees as part of the integration of Paramount and Warner Bros. Discovery. In a memo to staff, chairman and CEO David Ellison and co-CEO Ynon Kreiz explained that the one-time offer is intended for workers who do not see a future with the combined company and will be communicated individually with specific terms and a decision window.
The memo also announced a mandatory five-day-per-week in-office policy for all Skydance locations. The executives argued that in-person collaboration is essential for the company’s creative culture and business success, citing benefits observed at Paramount and stating that the change will be phased by location with advance notice.
Skydance aims to achieve more than $6 billion in annualized cost savings within three years, a portion of which is expected to come from workforce reductions. While the exact scale of upcoming layoffs has not been disclosed, an August Los Angeles County report projected that the Paramount-Warner Bros. merger could eliminate roughly 4,500 film and TV jobs in the region over three years.
Employees are directed to review the VBO details, consult HR resources, and contact their managers with questions. The memo emphasized the company’s commitment to building a “next-generation media and entertainment” business and highlighted the importance of a unified, collaborative culture.