WASHINGTON (dpa-AFX) - David Ellison is swiftly reshaping Paramount following its merger with Skydance, signaling a cultural and structural overhaul for the storied media company.
In a memo to employees Thursday, the CEO and chairman announced that staff in Los Angeles and New York will be required to return to the office five days a week beginning January 5, 2026.
Workers unwilling to make the transition will be offered buyouts, with applications open through September 15. A second phase will extend the mandate to other U.S. and international offices in 2026, paired with a similar voluntary exit program.
'To unlock Paramount's full potential, we must make meaningful changes that position us for long-term success,' Ellison wrote. 'In a creative business like ours, progress begins with being together in person.'
The decision comes as Paramount faces sweeping cost-cutting measures. Variety reported the company plans to eliminate 2,000 to 3,000 positions as early as November, part of a strategy to slash more than $2 billion in expenses amid declining cable revenues and advertising headwinds.
Ellison has framed the restructuring as both a streamlining effort and an investment in growth. Leadership has outlined plans to consolidate technology across Paramount+, BET+ and Pluto TV, while also exploring new uses of artificial intelligence.
The return-to-office mandate, combined with looming layoffs, underscores the urgency with which Ellison is moving to reposition Paramount as a leaner, more competitive player in an evolving media landscape.
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