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600 employees quit instead of returning to office 5 days a week. It cost the company $185 million
About 600 Paramount Skydance employees quit the American entertainment conglomerate when asked to return to office five days a week.
About 600 Paramount Skydance employees quit the American entertainment conglomerate when asked to return to office five days a week.
According to company disclosures filed on Monday and reported by Fortune magazine, 600 employees decided to take up CEO David Ellison’s buyout offer — costing the company around $185 million.
David Ellison’s buyout offer
After the $8 billion merger of Paramount and Skydance Media in August 2025, David Ellison took charge of the conglomerate and told remote workers that they must return to the office full time or accept a severance package.
"I believe that in-person collaboration is absolutely vital to building and strengthening our culture and driving the success of our business. Our people are the key to winning, and being together helps us innovate, solve problems, share ideas, create, challenge one another, and build relationships that will make this company great," Ellison wrote in the memo obtained by Fox News Digital.
"As I said during our town hall, some of the most formative moments of my life happened in rooms where I was a fly on the wall, listening and learning. I’ve never seen that happen on Zoom," he continued. "Being together in-person isn’t just about showing up — it’s about actively engaging with the business, supporting one another and the team’s efforts, and contributing to our shared momentum."
600 employees quit
Around 600 employees at Paramount’s Los Angeles and New York offices, at the vice-president level and below, opted for the buyout, according to company disclosures filed on Monday. The severance packages cost Paramount $185 million.
The filings referred to restructuring costs “associated with actions to align the business around our strategic priorities.” In a shareholder letter released Monday ahead of the company’s earnings presentation, Paramount stated it expects to incur $1.7 billion in restructuring expenses.
(Also read: AT&T CEO tells employees to work from office 5 days a week – or find a new job)
