In a move to cut costs, Lionsgate is offering employees in the United States voluntary severance and retirement packages, its CEO wrote in a memo to staff on Monday.
“As we continue to move toward the full separation of the studio and Starz in a challenging operating environment, Lionsgate’s Executive Committee has approved a multifaceted strategic plan to enhance productivity and achieve greater cost efficiencies,” chief Jon Feltheimer said in the email.
A target for the number of staff reductions at the Santa Monica-based company was not disclosed in the note and a rep for the company declined to elaborate on the memo. As of its latest annual report, Lionsgate employed 1,500 staffers worldwide.
https://www.hollywoodreporter.com/business/business-news/lionsgate-voluntary-buyout-employees-1236018254/