Skydance Offers Voluntary Buyouts, Mandates Five-Day Office Week
Chairman David Ellison and co-CEO Ynon Kreiz outlined the buyout program and in-office policy in an October 26 memo to staff.
Skydance is offering a one-time Voluntary Buyout (VBO) Program to eligible employees and will require staff to be in the office five days a week, according to a memo sent to employees on October 26 by chairman and CEO David Ellison and co-CEO Ynon Kreiz. Variety reported the details of the memo.
The company did not say how many jobs it expects to cut through the buyout program.
The in-office requirement will be rolled out in phases by location, with advance notice given before any change takes effect, according to the memo.
Executives have said Skydance aims for more than $6 billion in annualized cost savings within three years.
Integration context
Paramount's $111 billion takeover of Warner Bros. Discovery closed on October 6. In a "Day One" memo that day, Ellison and Kreiz acknowledged that layoffs would be part of the integration process. A Los Angeles County report issued in August estimated that the Paramount-Warner Bros. merger could cost some 4,500 film and TV jobs over three years in Los Angeles.
Kreiz was CEO of Mattel before joining Skydance earlier in October 2026.
Quick answers
What is Skydance's voluntary buyout program?
It is a one-time Voluntary Buyout (VBO) Program offered to eligible employees, outlined in an October 26 memo from chairman and CEO David Ellison and co-CEO Ynon Kreiz. Skydance has not disclosed how many job cuts it expects.
Will Skydance employees have to return to the office five days a week?
Yes. Skydance is adopting a mandatory five-days-per-week in-office policy, rolled out in phases by location with advance notice before changes take effect.