Paramount Skydance said on Thursday it expects all employees to return to the office five days a week starting in January next year, according to a memo seen by Reuters.
The return-to-office plan will be carried out in two phases, Paramount Skydance CEO David Ellison said in the memo to employees.
Ellison had in August said he planned to move the company onto a single technology platform to reduce costs, and said it would find efficiencies associated with labor, real estate and procurement, with the goal of achieving a previously announced $2 billion in cost savings.
Beginning January 5, employees assigned to Paramount’s Los Angeles and New York offices are expected to work in the office five days a week. From Thursday to September 15, the company will offer a severance opt-in program for those who cannot or do not wish to return full-time.
Paramount will announce plans for employees not assigned to these locations, international offices and those originally hired into fully remote roles in the second phase next year. There will also be a buyout program for the staff.
“I believe that in-person collaboration is absolutely vital to building and strengthening our culture and driving the success of our business,” Ellison said in the memo.
“We need to all be rowing in the same direction. And especially when you’re dealing with a creative business like ours, that begins with being together in person.”
Staff assigned to production tasks who oversee telecasts from out-of-office venues may not be expected to be at a regular headquarters each day, according to Variety, which had earlier reported the news.
The push comes after a Variety report in August said Paramount was looking to cut between 2,000 and 3,000 jobs by early November, following the completion of its merger with production studio Skydance.
The $8.4 billion merger — announced more than a year ago — was completed in August, installing new leadership at the media company.
(Reporting by Juby Babu in Mexico City and Harshita Mary Varghese in Bengaluru; Editing by Alan Barona)
