Skydance offers buyouts to some employees to cut costs after Warner Bros merger
SKYD•Skydance is offering some employees a one-time voluntary buyout and moving to a five-day in-office policy after completing its $110 billion takeover of Warner Bros Discovery. The combined company is expected to have about 53,000 employees and about $80 billion in debt.
1. Buyout offer
Skydance is offering some employees a one-time voluntary buyout as it seeks to cut costs following its takeover of Warner Bros Discovery. CEO David Ellison and co-CEO Ynon Kreiz said in a memo that eligible employees would receive the terms and a window to decide whether to accept.
2. Debt and strategy
The company is also moving to a five-day-a-week in-office policy. The takeover, completed earlier this month, was valued at $110 billion; the combined company is expected to have about 53,000 employees and shoulder about $80 billion in debt. Skydance is due to report third-quarter results on November 9.
