Paramount Skydance calls staff back to the office 5 days a week. Read the memo describing its RTO plans.

"The move comes as staff are bracing for big job cuts. The company said it would cut 3.5%, or hundreds of employees, CNBC reported, as it looks to deliver on a promised $2 billion in cost savings. Ellison said the return would start in January with employees based in Los Angeles and New York. Starting this month, severance would be offered to those - at levels of VP and below - who can't or don't want to return full time, with some limited exceptions."

""I believe that in-person collaboration is absolutely vital to building and strengthening our culture and driving the success of our business," Ellison wrote in a memo seen by Business Insider. Employees have had various reactions to the news. One told Business Insider that they'd have to leave the company because they couldn't move to New York for family reasons. Another said as a single person with no kids, they didn't mind."

David Ellison is mandating a five-day in-office return for Paramount Skydance employees beginning in January for staff based in Los Angeles and New York. The company plans to cut 3.5% of its workforce, amounting to hundreds of jobs, to achieve $2 billion in cost savings. Severance will be offered starting this month to employees at VP level and below who cannot or choose not to return full time, with limited exceptions. Employee reactions vary, with some facing relocation conflicts and others accepting the policy. David and Larry Ellison have pursued major content deals while steering corporate changes.

Read at Business Insider