US Edition600 Paramount employees quit instead of returning to office full time
About 600 vice presidents and below accepted severance after Paramount's five-day return-to-office mandate aimed at organizational restructuring and cost savings.
- In its shareholder letter Monday, Paramount reported roughly 600 employees in the Los Angeles and New York offices at the vice-president level and below took voluntary severance, costing $185 million.
- David Ellison issued a companywide ultimatum requiring staff to return five days a week starting Jan. 5, 2026, or accept severance, with buyouts offered starting Sept. 15.
- Paramount said in its shareholder letter it expects $1.7 billion in restructuring expenses and aims for $3 billion in cost savings by reorganizing into Studios, DTC, and TV Media.
- The company said divestitures will reduce headcount by about 1,600 employees after selling Televisión Federal , Argentina, and Chilevision, Chile, with completion expected in the first quarter of 2026.
- Ellison wrote in a layoff memo that Paramount plans to reinvest in programming in 2026, including over $1.5 billion and $800 million in investments, to support growth areas like UFC and Paramount+ Originals.
13 Articles
13 Articles
About 600 Paramount Skydance Employees Took Severance Packages Rather Than Comply With Five-Day-per-Week Return to Office Mandate
About 600 Paramount Skydance employees took a voluntary severance package after the company set a January 2026 return-to-office directive mandating five days per week in the office.
The entertainment giant Paramount Global faces a new wave of job exits after announcing the mandatory return to work five days a week from January 2026. According to a recent presentation to shareholders, some 600 employees opted to resign voluntarily before returning to the office full time.Read more]]>
Paramount Skydance says 600 employees took severance and quit instead of returning to the office
Paramount Skydance CEO David Ellison was willing to pay severance packages to staffers who didn't want to come back to the office.Eric Thayer/Getty Images; Patrick T. Fallon/AFP via Getty ImagesParamount Skydance told its employees to return to the office or take a severance package.Roughly 600 employees took the severance package, costing Paramount $185 million.Paramount also laid off about 1,000 employees last quarter, and about 1,600 more cut…
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