Skydance Offers Staff Buyouts and Requires Five-Day Office Work

Skydance has offered one-time voluntary buyouts to eligible employees as it integrates Paramount and Warner Bros. Discovery, while announcing a phased shift to five-day in-office work across the company. The plans were outlined in an October 26 memo from co-CEOs David Ellison and Ynon Kreiz. Employees who qualify will receive individual offers with personalized terms and a period to decide whether to accept. The memo did not identify eligible roles or say how many workers could participate. Skydance has not disclosed the expected number of job cuts or the value of the buyouts. The company is targeting more than $6 billion in cost savings. Executives have said layoffs will account for some of the savings, while most are expected to come from nonlabor measures. Those measures include consolidating real estate and combining the companies’ streaming technology, according to statements attributed to Skydance executives. The memo also says the five-day office policy will be introduced location by location, with advance notice to employees before changes take effect. Ellison and Kreiz said in the memo that the company views in-person collaboration as important to its operations and...