Skydance employees face a five-day office week or a buyout

Paramount closed the roughly $110 billion deal on Oct. 6, and the combined company now operates as Skydance, Reuters reported. Kreiz, a former Mattel CEO, joined the company earlier this month, Variety reported.

How the voluntary buyout works

The memo doesn’t say how many employees are eligible or what the packages include. Eligibility rules and deadlines vary across the company, according to sources familiar with the situation who spoke to Variety, depending on whether a job is union or non-union and whether a staffer is on contract or at will. Opt-in deadlines generally fall around the second week of November, Variety reported.

Employees who qualify will get an individual communication with their personalized terms and a window to decide, the memo said. Questions go to managers or HR representatives, and legacy Paramount and Warner Bros. staff are pointed to separate internal support channels.

A five-day office week, phased in by location

The five-day policy applies across all of Skydance, though many employees already work in the office five days a week, the memo said. The company will phase in the change by location, give employees notice before it takes effect and work with managers on the transition. Ellison and Kreiz acknowledged it may be a significant change to the daily routines of some staff.

“We believe in-person collaboration is vital to our culture and to the success of our business,” Ellison and Kreiz said.