Skydance announces employee buyout program and five day office mandate

Skydance co-chief executive officers David Ellison and Ynon Kreitz announced in an internal staff memo on October 26, 2026, that the company is offering voluntary buyouts to certain employees. UPI reported that the company also plans to mandate that all staff work inside the office five days a week. [1]

The company has not disclosed the exact number of job cuts it plans to make. However, Variety reported that an August study commissioned by Los Angeles County estimated that the company's recent merger could lead to the loss of around 4,500 film and television jobs in Los Angeles over a three year period, according to UPI. [1]

In internal communications, company leadership acknowledged that some workers may not see their future at the combined business as teams are brought together. Paramount Skydance acquired Warner Bros. Discovery on October 6, 2026, for 31 dollars per share in a deal valuing the enterprise at 110.9 billion dollars, with the combined firm taking the name Skydance, as FTMQ News reported earlier. [1][2]

The massive entertainment acquisition was financed by the Ellison family and RedBird Capital Partners, with further financial backing provided by sovereign wealth funds from Saudi Arabia, Qatar, and the United Arab Emirates, as FTMQ News reported earlier. [2]