Skydance is introducing a voluntary employee buyout program alongside a mandatory five-day return-to-office policy as the company begins cutting costs. According to The Hollywood Reporter, the changes come as the entertainment company works toward achieving $6 billion in operational efficiencies following its merger with Warner Bros. Discovery.
Executives David Ellison and Ynon Kreiz announced the changes in a company-wide memo Monday. The new policy will require employees across Skydance to work in person five days a week, aligning former Warner Bros. Discovery employees with Paramount’s existing requirements.
The Hollywood Reporter notes that the transition will take place gradually, with implementation varying by location. Employees will receive advance notice before the requirements take effect, allowing them time to adjust their schedules.
In the memo, Ellison and Kreiz emphasized the importance of workplace collaboration. “We believe in-person collaboration is vital to our culture and to the success of our business,” the executives wrote.
Alongside the office requirements, Skydance is offering voluntary buyouts to eligible employees who may not wish to continue under the new arrangement. Those who qualify will receive individual communications outlining their terms and a limited period to decide whether to accept the offer.
The program is part of a broader effort to reduce operating expenses across the newly combined company. Skydance is targeting $6 billion in operational efficiencies, with additional restructuring measures expected.
Although layoffs are anticipated, executives said most planned savings will not come from eliminating jobs. Instead, the company expects changes to its technology and marketing operations to contribute significantly to its financial goals.
The memo also acknowledged the uncertainty these changes may create for employees. “Please know we don’t take any of this lightly,” Ellison and Kreiz wrote, emphasizing their goal of building a more connected entertainment company.
Employees considering the buyout program have been directed to company resources and human resources representatives for additional guidance. Skydance has not announced how many employees are expected to accept the offers or how many positions it may eventually eliminate.
