Stocks Flux
  • Business
  • Politics
  • Latest news
  • World News
  • Business
  • Politics
  • Latest news
  • World News

Stocks Flux

Business

Paramount mandates 5-day-a-week return to office ahead of major cost cuts

by admin September 5, 2025
September 5, 2025
Paramount mandates 5-day-a-week return to office ahead of major cost cuts

David Ellison continues to put his stamp on Paramount after its acquisition by Skydance.

The CEO and chairman told employees Thursday that they will be expected to work in the office five days a week starting Jan. 5, 2026, according to a memo obtained by CNBC. Employees who do not wish to make the transition can seek a buyout starting Thursday and until Sept. 15.

“To achieve what we’ve set out to do — and to truly unlock Paramount’s full potential — we must make meaningful changes that position us for long-term success,” Ellison wrote to staffers. “These changes are about building a stronger, more connected, and agile organization that can deliver on our goals and compete at the highest level. We have a lot to accomplish and we’re moving fast. We need to all be rowing in the same direction. And especially when you’re dealing with a creative business like ours, that begins with being together in person.”

The move could help Paramount thin the herd ahead of looming staffing cuts.

Variety reported last month that the company is expected to lay off between 2,000 and 3,000 employees as part of its postmerger cost-cutting measures. These cuts are slated for early November, Variety reported.

Paramount is looking to take $2 billion in costs out of the conglomerate amid advertising losses and industrywide struggles with traditional cable networks.

Phase one of Ellison’s back-to-work plan will see employees in Los Angeles and New York returning to a full five-day workweek in the new year.

Phase two will focus on offices outside LA and New York, including international locations. A similar buyout program will be offered in 2026 for those who operate in these locations.

“We recognize this represents a significant change for many, and we’re committed to supporting you throughout this transition,” Ellison wrote. “We will work closely with managers to ensure you have the time and flexibility to make the necessary adjustments.”

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
SCOOP: House GOP eyes more Medicaid reforms in second budget reconciliation bill
next post
Apple has survived Trump’s tariffs so far. It might raise iPhone prices anyway.

You may also like

U.S. online stores put up ‘out of stock’...

June 12, 2025

Fox One streaming service to launch ahead of...

August 6, 2025

Denny’s set to close dozens more locations this...

February 16, 2025

JetBlue talking to ‘multiple airlines’ about a new...

February 21, 2025

Disney tops quarterly profit estimates but starts to...

February 6, 2025

Amazon expects to cut corporate jobs as it...

June 19, 2025

Credit card startup Imprint beats big banks for...

July 24, 2025

Amazon extends Prime Day discounts to 4 days...

July 10, 2025

Cava revenue beats estimates as Mediterranean chain reports...

May 17, 2025

USPS resumes shipments from China in abrupt about-face

February 6, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (449)
    • Latest news (10)
    • Politics (2,287)
    • World News (1,369)
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Politics

    • Trump meets NATO’s Rutte amid canceled Putin meeting: ‘It didn’t feel right to me’

      October 23, 2025
    • FLASHBACK: Ted Cruz predicts ballooning Obamacare subsidies now at center of shutdown fight

      October 23, 2025
    • Sparks fly as Cuomo, Mamdani tear into each other during fiery debate: ‘Toxic energy’

      October 23, 2025
    September 2025
    M T W T F S S
    1234567
    891011121314
    15161718192021
    22232425262728
    2930  
    « Aug   Oct »

    Copyright © 2025 stocksflux.com | All Rights Reserved