Microsoft buyout offer extends to around 60,000 workers
Media reports say eligible employees would receive benefits similar to standard severance as Microsoft cuts costs and adapts its workforce for AI.
Skydance seeks cost savings with voluntary employee buyouts
The media company is also requiring five days in the office following its $110 billion takeover of Warner Bros Discovery.
Skydance is offering voluntary, one-time buyouts to some employees as it seeks to reduce costs following its acquisition of Warner Bros Discovery, according to an employee memo disclosed on October 26.
The memo also outlined a requirement for employees to work in the office five days a week. Eligible staff will receive details of the buyout terms and a period in which to decide whether to participate.
CEO David Ellison and co-CEO Ynon Kreiz acknowledged in the memo that some employees may not want to remain as the companies integrate their teams.
Paramount Skydance closed the $110 billion acquisition earlier in October, and the merged business took the Skydance name. Its workforce is expected to number about 53,000, based on the companies' annual filings.
The combined company is expected to carry about $80 billion in debt. Management faces pressure to grow streaming, maintain cable-network cash flow and improve film performance in theaters. Skydance is scheduled to announce third-quarter results on November 9.