Santa Monica, California-based Lionsgate Entertainment Corporation, a mid-range entertainment company and a producer of feature films, has announced a 15% reduction in force in its motion picture group. Approximately 68 employees have been targeted for layoffs. This follows the 20 layoffs in March 2020, that occurred in the feature film marketing and distribution department
A company spokesperson noted, “While our business remains fundamentally strong, we are not immune to the ongoing COVID crisis that is impacting us like so many other studios. These demands on our business necessitate that we accelerate changes to our own operations and strategic plan. And today, in order to meet the challenges and opportunities in front of us, we begin the implementation of a reorganization of the Motion Picture Group around four globally integrated verticals. This means that individuals across the MPG will be impacted as groups are being combined, and new roles have been defined or eliminated as part of this process.”
“As a leader whose first priority is ‘A Best Place to Work,’ it is with a heavy heart that I tell you as part of the changes to our operational structure, we will be saying goodbye to a number of our colleagues, friends and co-workers today. These decisions are not a reflection of their immense talent, the quality of their work, or the meaningful contributions they have made at our company. We recognize that this is a challenging moment in our industry, and to provide as much support as we can to those colleagues leaving us, we are making enhancements to our separation policy in a number of areas including healthcare, job support and severance.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?