Skydance wants employees to return to the office five days a week — and employees who don’t want to comply could be eligible for a buyout.
CEO David Ellison and co-CEO Ynon Kreiz informed the media giant’s employees of the change Monday afternoon. They said in a memo that the RTO order applied “to all of Skydance.”
“We sincerely believe this is in the best interest of our company and our people,” Ellison and Kreiz wrote in a memo to employees, seen by Business Insider. “We have seen the benefits of Paramount and we want every part of Skydance to benefit.”
The memo does not mention whether there were any exceptions or indicate who is eligible for a buyout. It says employees eligible for a buyout will receive “individual communication with their personalized details and terms, as well as a window to decide whether or not to accept this unique offer.”
Eligible employees can receive a buyout package of two weeks of salary for each year with the company. They must decide whether to accept the offer by November 8 at 11 p.m. ET.
Skydance was created earlier this month when Paramount completed its acquisition of Warner Bros. Discovery for $110 billion. (The company was previously called Paramount Skydance.)
Most WBD employees are required to work in person three days per week.
Paramount Skydance, for its part, had required staff at its New York and Los Angeles offices to return to working in person five days a week in January. Employees who were unwilling to work in person were offered severance. The company also brought in hybrid workers in September for phase 2 of its RTO policy.
Working in person will allow employees to “communicate openly and collaborate effectively across all parts of the organization,” Ellison and Kreiz told staff in Monday’s memo.
“We believe that in-person collaboration is essential to our culture and the success of our company,” Ellison and Kreiz said.
Read the full memo from Ellison and Kreiz:
Team, At Skydance, our goal is to build a next-generation media and entertainment company, powered by creativity and technology. We are creative-first, audience-focused, tech-forward, and global. And in a world where choices are endless and competition is fierce for attention, we don’t just want to succeed. We want to win. To achieve this, we must be a strong, connected and agile company. Among our business and creative priorities, the most important is building a strong culture, because it is the foundation of everything we want to achieve. To win, we must work as one team: one company, fully aligned. This means communicating openly and collaborating effectively across all parts of the organization. In-person collaboration We believe in-person collaboration is essential to our culture and business success. Especially in a creative business like ours, the best ideas come from people in the same room, sharing perspectives, challenging each other, and solving problems. Being together isn’t just about showing up. It’s about inspiring each other, learning and practicing, building friendships and having casual conversations that spark something great. With this in mind, we will be adopting a five-day in-office policy across Skydance. We sincerely believe that this is in the best interest of our company and our employees. We’ve seen the benefits of Paramount and we want every part of Skydance to benefit. Although many of you are already in the office five days a week, we understand that this may be a significant change to others’ daily routines. To give you time to plan and adapt, we will take a phased approach by location. You will receive sufficient notice before the changes come into effect and we will work closely with managers to support you through the transition. Voluntary Buyback Program By bringing our teams together, we recognize that not everyone will see their future here, and we respect that. To give eligible employees the opportunity to grow in a way that suits them, we are launching a Voluntary Buyout (VBO) program. Those who qualify will receive one-on-one communication with their personalized details and terms, as well as a window to decide whether or not to accept this unique offer. We recognize that this is an important decision and we want you to feel informed and supported. If this applies to you, please review your documents carefully and contact your management or human resources representative with any questions. FAQs and other resources are available on the Skydance Integration Hub, and HR support is also available through My Paramount (former Paramount employees) or Ask Employee Connection on WBD One (former Warner Bros. employees). Please know that we do not take any of this lightly. We’re 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 power and the ambition to achieve this, and we will achieve it together. Thank you for your commitment, as well as for the creativity and passion that you bring to your work every day. Best, David and Ynon
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