AM I NEXT? NO LOVE AT LIONSGATE

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?

AM I NEXT? NO LOVE AT QUIBI

Los Angeles, California-based Quibi, a short-form entertainment service for mobile devices headed by former Disney honcho Jeffrey Katzenberg and former HP CEO Meg Whitman, announced that it is shutting down all operations and attempting to sell the company's intellectual property.

It is unknown how many staffers face layoffs, but many were upset at the large up-front payments to name-talent while they were accepting pay cuts to preserve their jobs.

In spite of the legendary founders, almost $2 billion in venture capital, and a roster of A-list talent, the streaming service failed to attract a viable audience.

According to Whitman, "While we have enough capital to continue operating for a significant period of time, we made the difficult decision to wind down the business, return cash to our shareholders, and say goodbye to our talented colleagues with grace. We continue to believe that there is an attractive market for premium, short-form content. Over the coming months, we will be working hard to find buyers for these valuable assets who can leverage them to their full potential. All that is left now is to offer a profound apology for disappointing you and, ultimately, for letting you down.

Considering the amount of user-generated, high-quality content on Google's YouTube and the streaming products from Netflix, Hulu, and Amazon's Prime Video, it is a stunning failure of the company's business plan.

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?

AM I NEXT? NO LOVE AT PARADIGM TALENT AGENCY

Beverly Hills, California-based Paradigm Talent Agency, a full-service entertainment agency, has announced a reduction in force that will impact approximately 30% of its workforce, or approximately 180 employees.

Paradigm's Chairman and CEO Sam Gores noted, “With disappointment and sadness, today we have informed the temporarily laid off employees whom we have not been able to reinstate that they will be transitioned to permanent layoff. As you know, over the last six months, we have brought back as many of our temporarily laid off colleagues as we could; unfortunately, the profound effects of the coronavirus have continued to severely impact every aspect of our industry and our world for longer than we had even imagined six months ago. Consequently, we have had to examine every aspect of our business and make this difficult decision.”

“As these colleagues and friends begin their next chapters, we wish them only the best. As a company, we have enjoyed growth for several decades, so needless to say, this is a difficult day. Our values and our core are strong, and we will continue on a focused path, and we remain committed to improving.”

“I recognize that you and your former colleagues have carried a heavy burden this year, and I am grateful for all of your contributions. We all hope that someday soon, the live and filmed entertainment industry will safely and wholly return. As always, the company and I remain appreciative of your commitment and dedication.”

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