“People are tired,” a CBS News source told the Post.
David Ellison is offering buyouts to employees at CBS News and other Skydance properties.
The Trump-friendly billionaire is extending the offer to employees at the vice-presidential level or below with 15 years of service or more, the New York Post reported Monday. Employees in the United States, as well as the United Kingdom, Hong Kong, United Arab Emirates and other countries are eligible.
The upheaval comes as Ellison, the son of Oracle billionaire Larry Ellison, successfully bid to acquire Warner Bros. Discovery under the Skydance Paramount umbrella, after months of legal difficulties and accusations that the deal would create a monopoly.
David Ellison, CEO of Paramount Skydance, was Graham’s guest at Trump’s State of the Union conference. At the time, Paramount was trying to outbid Netflix to acquire Warner Bros. Discovery.
Ellison and co-CEO Ynon Kreiz announced the voluntary buyouts alongside a mandatory retention policy at the newly merged company.
“As we bring our teams together, we recognize that not everyone will see their future here, and we respect that,” the two said in a joint email Monday, according to the Post. “To give eligible employees the opportunity to progress in a way that suits them, we are launching a voluntary buyout (VBO) program. »
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Additional layoffs are almost certain as Ellison considers additional cost-cutting measures.
The Skydance shakeup hit CBS hard under editor-in-chief Bari Weiss. A former conservative blogger with no broadcasting experience, she was appointed last year in what many saw as a move by Ellison to appease the Trump administration.
CBS News executive editor Bari Weiss took the helm with no prior broadcast experience.
Kevin Dietsch/Getty Images
“It’s ugly. Most people seem inclined to ask for a buyout. People are tired,” a CBS News source told The Post on Monday.
CBS News ratings plummeted under former anti-woke blogger.
Its revamped 60 minutesfor example, debuted last month with 7.94 million viewers, the worst opening since at least the turn of the century. The audience among 25-54 year olds also fell by a third, to 1.6 million viewers.
And just last week, CBS News foreign editor Shayndi Raice, hand-picked by Weiss, threatened to fire staffers for “insubordination” during a 15-minute tirade that was leaked to the Status newsletter, creating even more bad press for the network.
CBS has already seen the resignation of several staff members, including 60 minutes executive producer Bill Owens, former 60 minutes correspondent Anderson Cooper, who decided not to renew his contract after 20 years with the program, and CBS justice correspondent Scott MacFarlane.
Before Ellison made the deal, he reportedly considered Weiss’ role in running CNN. Then the Paramount chief appeared to have a change of heart and reportedly requested that CNN network CEO Mark Thompson remain at Warner Bros. after the acquisition, the Wall Street Journal reported earlier this month. Weiss, for his part, is expected to play no role in CNN’s operations.
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