Skydance Launches Employee Buyout Program, Moves All Staff to Five Days In-Office in $6 Billion Cost-Savings Push
Skydance is launching a voluntary employee buyout program, The Hollywood Reporter reported on October 26, with David Ellison and Ynon Kreiz kick-starting what is widely expected to be the first of many cost-saving efforts in a memo to staff on Monday. The memo also announces a mandatory five-days-per-week return to office, effectively aligning former Warner Bros. Discovery employees with what Paramount had already been doing; the new policy will roll out on a location-by-location basis.
For employees who may not want to proceed with that shift, the company will launch the voluntary buyout program, with everyone who applies getting personalized terms. "Please know we don't take any of this lightly," Ellison and Kreiz wrote. "We are clear about what we're building: a company that tells the stories people around the world love, embraces new ways to connect with audiences, and leads the next era of media and entertainment. We have the talent, the creative firepower and the ambition to do it, and we will get there together."
The buyout program is one of many steps Skydance will take to reduce costs and hit its targeted $6 billion in operational efficiencies. Layoffs are expected to be part of it, though Kreiz and Skydance board member Gerry Cardinale have made a point of noting that they do not expect the majority of that figure to come from staff reductions; instead, they expect technology and marketing changes to deliver the cost reductions.
Source: GSM · USA (original Chinese edition)
Photo: 派拉蒙影业 Melrose 大门，CC BY-SA 4.0，来源 Wikimedia Commons
