, the videoconferencing company, has netted about $1 billion on an investment it made in artificial intelligence startup Anthropic PBC in early 2023.The total value of ’s stake in the rapidly ascendant AI company is worth about $1.27 billion, according to a regulatory filing Friday
Bolivian riot police clashed with anti-government protesters in La Paz on Friday (May 22, 2026) for the second time in a week as unions and Indigenous groups pressed their calls for President Rodrigo Paz to step down. Demands for the business-friendly conservative to resign have persisted despite
A fire broke out at an oil depot in the southern Russian port of Novorossiysk following a Ukrainian drone attack, the city's mayor said on Saturday (May 23, 2026). "As a result of falling UAV (unmanned aerial vehicle) debris, a fire broke out at the oil depot
A newt dawn: Wknd talks to Whitley awardee Barkha Subba about her fight for salamandersThey walked among the dinosaurs. Now, they are in danger. There may be only 5,000 Himalayan salamanders left in the wild in India, Subba says. Published on: May 23
Indian woman praises China’s cleanliness, questions civic sense in India: ‘You won’t find a single wrapper’An Indian woman said China’s cleanliness proved civic sense mattered more than population. Published on: May 23, 2026 2:03 PM IST By Mahipal Singh Chouhan Share via Copy link An
Nita Ambani left in splits as student slips Mumbai Indians joke into DAIS graduation speechA Mumbai Indians joke cracked by the head boy of the DAIS' 2026 graduating class left the entire auditorium, including Nita Ambani, laughing. Published on: May 23
Kerala HM announces 'Operation Toofan' anti-narcotics campaignKerala HM announces 'Operation Toofan' anti-narcotics campaign Published on: May 23, 2026 2:24 PM IST PTI Share via Copy link Thiruvananthapuram, Kerala Home Minister Ramesh Chennithala on Saturday announced a comprehensive statewide
Chopper crash near Leh: Injured major general poses, pilot flashes 'victory' sign in viral selfieAn Army Cheetah chopper crashed near Leh in eastern Ladakh last week. An image from the crash site is now viral. Updated on: May 23, 2026 2:36 PM IST By Rahul Singh Share via Copy link Three days after
600 employees quit as US-based firm ends work-from-home policy
No work-from-home: 600 employees quit at US-based firm, opt for CEO’s buyout offer
An end to remote work at US-based entertainment company Paramount Skydance had an unintended casualty – around 600 employees decided not to return to the office. According to a report by Fortune magazine, nearly 600 staffers in Los Angeles and New York packed up their desks after CEO David Ellison issued a companywide decree: return to the office five days a week or take a buyout.
Why did Paramount end remote work?
After the $8 billion merger of Paramount and Skydance Media in August 2025, Ellison took charge of the media giant and, in an email to staff, emphasised the importance of “in-person collaboration” to “drive the success of the business.”“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.
He added: “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. 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.”
Employees at higher positions, including those at the vice-president level and below, accepted the severance package, costing the company around $185 million.
The firm cited restructuring expenses “associated with actions to align the business around our strategic priorities.”
And that's just the beginning — Paramount expects to incur $1.7 billion in total restructuring costs as it trims operations and prepares for its next act.
What challenges did Paramount face before the merger?
Before the merger, Paramount had already been navigating years of turbulence — pandemic disruptions, leadership shake-ups, and a revolving door of CEOs.Ellison stepped into the spotlight earlier this year, promising to restore Paramount's once-golden reputation and fend off accusations of political bias.
What's next for Paramount?
It seems to be working. Paramount plans to cut another 1,600 jobs and reduce costs by $1 billion, on top of the 1,000 layoffs that began last month.The company's restructuring push marks a new chapter in its post-merger transformation — one that may reshape not just Paramount's future, but the broader culture of corporate work in Hollywood.
Source: LiveMint
Related Posts: Company installed software to track remote employees but it backfired Need a compact device for office work and entertainment Top 10 feature-packed tablets under ₹45000 for work and entertainment 8 best laptops under ₹60000 in Sep 2025 for work and entertainment needs SiCSem starts work to build country's first end-to-end chip production project in Odisha This Company Beats TCS To Become Third Largest Company In India Phone cover turns into a long selfie stick with built-in remote Why remote-control ceiling fans with LED lights are a must-have in 2026 How rescue of US airman in remote part of Iran unfolded 12 Dead, Tourism Down, Firms Go Remote
Kolkata Knight Riders and Delhi Capitals face off in a crucial IPL clash, with playoff hopes hanging by a thread. Both teams need a win, but their fate also depends on other results. KKR's strong recovery contrasts with DC's reliance on KL Rahul
8 hours ago
Some of the most useful lessons I learnt as a young restaurateur came from New York restaurateur Danny Meyer’s book Setting the Table. He writes beautifully about the guest who comes in alone. Most diners come in with an agenda — to impress a date, close a deal
8 hours ago
The Union government told the Supreme Court on Friday that 217 Indian nationals had joined the Russian military during the war in Ukraine, of whom 139 have been released from their contractual agreements, The Hindu reported. Additional Solicitor General Aishwarya Bhati told a bench headed by Chief
8 hours ago
Hamza Burhan, a key operative linked to the Pakistan-backed terror outfit Al-Badr, who also worked as an Over Ground Worker (OGW) during the Pulwama terror attack period, was killed in Pakistan-occupied Kashmir (PoK) on Thursday. Several wanted Pakistan-based terrorists
8 hours ago
Nothing says summer quite like a chilled, fruity mocktail. As temperatures continue to rise, refreshing drinks packed with tropical flavours, citrusy notes, and vibrant ingredients are becoming the perfect way to cool down. Whether you are hosting a weekend brunch, planning a house party
8 hours ago
Producer Vashu Bhagnani has lashed out at David Dhawan and his actor-son Varun Dhawan. On Friday, Vashu held a press conference in Mumbai and claimed that the storyline of Hai Jawani Toh Ishq Hona Hai is similar to Biwi No.1. Released in 1999
8 hours ago
Hyderabad, May 23 (PTI) A lawyer died after being hit by a car outside his residence here in a suspected case of pre-planned murder, police said on Saturday. The 63-year-old victim was about to get into his car when the car hit him at his residence at Masab Tank here.Hyderabad
8 hours ago
Raghav Chadha has been appointed the new chairman of the Committee on Petitions in the Rajya Sabha. The Rajya Sabha chairman reconstituted the committee and nominated ten members. This appointment takes effect from May 20, 2026. Dr. Menaka Guruswamy has also been nominated to the Joint Committee on
8 hours ago
Formula 1’s silly season has arrived early, and we have Red Bull Racing boss Laurent Mekies to thank for it. The Frenchman doubled down on his explosive claim that Max Verstappen’s long-time race engineer, Gianpiero Lambiase, is heading to McLaren to eventually become team principal
8 hours ago
The blue-collar town that’s set to decide Britain’s next Prime MinisterLabour left-winger Andy Burnham wants to replace Keir Starmer as prime minister. First, he must convince the Makerfield voters and fend off Reform UK. Published on: May 23
8 hours ago
Human beings are not just shaped by their actions, but they are also creatures of circumstance. This is especially true in the sporting world, where athletes’ performance not only depends on their quality but also on who the rivals are, their prevailing standards of excellence and the setting in
8 hours ago
Do you have greasy flakes on nose and scalp? Dermatologist explains what you are doing wrongSeborrheic dermatitis is a chronic skin condition that manifests in the form of greasy flakes on the nose and scalp. Dr Abigail Waldman shares what to do. Updated on: May 23
8 hours ago
Investors just can’t get enough of stocks these daysWar, inflation and worries about the AI boom haven’t kept stocks from setting records. Published on: May 23, 2026 2:27 PM IST WSJ Share via Copy link Investors just can’t get enough of stocks these days
8 hours ago
Fuel prices have surged for the third time in eight days. Congress leader Mallikarjun Kharge criticizes the government, accusing it of "looting" citizens. He highlights international examples where countries provided relief. India's petrol and diesel prices have increased by nearly Rs 5 per litre
8 hours ago
Ballia (UP), May 23 (PTI) A court here has sentenced a man to life imprisonment for murdering his wife and dumping her body in a pond in 2019 after the couple remained childless, police said on Saturday. According to the prosecution, Nepal Paswan
8 hours ago
Delhi street vendor’s profound take on gender equality goes viral: ‘Spitting truth’The Delhi street vendor’s reaction to being asked, “Are women oppressed?” has won the internet’s hearts. Published on: May 23, 2026 9:18 AM IST By Trisha Sengupta Share via Copy link A local street
11 hours ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Sharara sets are the ultimate festive trend for Eid al-Adha: Choose from these picks under ₹3000From pastel embroidered sets to regal Banarasi shararas
11 hours ago
‘Most earnings spent on buying water’: Outdoor workers bear brunt of Delhi heatIn Delhi’s 45 degrees Celsius heat, outdoor workers say there is little room to stop. Updated on: May 23, 2026 10:29 AM IST By Anita Goswami | Reported by Aaditya Khatwani Share via Copy link As Delhi sweltered
11 hours ago
Tulsi Gabbard resigned as President Donald Trump’s director of national intelligence on Friday (May 22, 2026), saying she needed to step away as her husband battles cancer. She is the fourth Cabinet official to depart during Mr. Trump’s second term. In her resignation letter
11 hours ago
A recently arrested man accused of links with Iran-backed terror networks allegedly plotted to assassinate US President Donald Trump’s daughter Ivanka Trump in an attempt to avenge the killing of Iranian military commander Qasem Soleimani in the recent US-Israeli strikes
11 hours ago
Alone in her bedroom, six-year-old Emilia laughs at jokes told by kids on the other side of the world and listens to stories told by a lively adult voice.The tales and gags - many baffling to adult ears - are emitted by a , one of a growing class of sound-only gadgets for young children
11 hours ago
Fat loss coach shares the cardio routine that helped her lose weight from 84 to 54 kg sustainablyWalking or HIIT? Here’s a cardio routine shared by a fitness coach you can follow to lose weight and get in shape. Published on: May 23, 2026 10:54 AM IST By Anukriti Srivastava Share via Copy link
11 hours ago
IITian founders offer ₹50,000/month to candidate who asked for ₹35,000 salaryIn a video, the IITian founders explained why they decided to pay a higher salary than what the candidate asked for. Published on: May 23, 2026 10:59 AM IST By Trisha Sengupta Share via Copy link In a refreshing
11 hours ago
said on Friday there were no imminent new US tariffs expected to be imposed on semiconductors, but that it was important to protect the sector with duties to facilitate reshoring of chip production.Greer, speaking at a memory chip plant expansion project in the Washington, D.C., suburbs
11 hours ago
The United States on Friday (May 22, 2026) temporarily banned the entry of lawful permanent residents who have been in the Democratic Republic of Congo, Uganda or South Sudan in the previous 21 days, citing concerns over Ebola. U.S. citizens
11 hours ago
Marco Rubio India Visit Live Updates: US Secretary of State Marco Rubio arrived in Kolkata on Saturday on his first official visit to India, ahead of high-level talks with Prime Minister Narendra Modi in New Delhi later in the day. Confirming his arrival
11 hours ago
Every Indian summer comes with its own set of rituals, rising temperatures, nostalgic family vacations, afternoon siestas, and of course, mangoes finding their way into almost every meal imaginable. But in recent years, mango season has evolved far beyond household indulgence
11 hours ago
