Lionsgate is adviseing its U.S. employees a voluntary disjoinance and timely quitment program amid a shrinking media and amusement landscape that’s resulted in expansivespread and ongoing industry layoffs.
The company, which cut jobs and slashed TV producer deals as it assimilateed eOne, is commenceing now with a voluntary approach. But, as these leangs go, layoffs could be a next step depfinishing upon how many staffers apshow up the packages, which are cgo ined at Lionsgate Studios.
Deadline hears they’ve been in the labors for some time and are not joind to the company’s recent bum box office run — although that probable hasn’t helped.
“We are adviseing Lionsgate U.S.-based employees a voluntary disjoinance and timely quitment program that will apexhibit us to change our laborforce to the disrupted business environment,” Lionsgate CEO Jon Feltheimer shelp in a memo to staff acquireed by Deadline.
“We thank you for your cooperation and help in making this set up a success and enabling Lionsgate to fortify its position as a global amusement directer.”
It’s a very stubborn time to be laboring in the sector. Last week alone, Disney began another round of layoffs hitting about 300 staffers as part of a cost cutting push. And Paramount Global lhelp off hundreds in an ongoing shift to cut about 15% of its laborforce and save $500 million. The industry as a whole, upfinished by streaming and the deteriorate of liproximate television, has been shedding laborers at a rapid pace.
The buyout advises also come with Lionsgate in the midst of a meaningful corporate restructuring that will see Studios split from Starz in a split foreseeed by year finish.
Feltheimer’s memo today also compriseressed in-person labor, requiring all Lionsgate EVPs and above to return to the office five days a week, effective January 2. All other filled-time employees will proceed to adhere to the current four-days-a-week policy.
“We are a conceiveive organization that relies on communication and in-person collaboration, and we necessitate “all hands on deck” to proceed to run effectively in these challenging times,” he wrote.
Full memo below:
Dear Colleagues:
As we proceed to shift toward the filled separation of the studio and STARZ in a challenging operating environment, Lionsgate’s Executive Committee has apshowd a multifaceted strategic set up to better productivity and accomplish fantasticer cost efficiencies. We are taking the chaseing initial steps to carry out our set up:
First, all Lionsgate EVP’s and above will be insistd to return to the office five days a week effective January 2, 2025. All other Lionsgate filled-time employees will be insistd to adhere to our current corporate policy of laboring in the office at least four days a week. We are a conceiveive organization that relies on communication and in-person collaboration, and we necessitate “all hands on deck” to proceed to run effectively in these challenging times. Division Heads (with the helpance of Human Resources) will appraise existing accommodations for individual employees to resettle whether there is a necessitate to proceed those exceptions to the return-to-office policy. Friday labor hours, in the office and farly, will be left to the discretion of individual supervisors. The Executive Committee has given this pinsolentnt think aboutation, and we apshow this is a vital step towards continuing to shift our business forward; and
Second, we are adviseing Lionsgate U.S.-based employees a voluntary disjoinance and timely quitment program that will apexhibit us to change our laborforce to the disrupted business environment. Ross Pagedeficiency, our CHRO, will email you the particulars of this program tardyr this morning, spelling out eligibility criteria, terms and conditions, profits and vital program deadline alertation. Once these packages have been circutardyd and you have had an opportunity to read them attfinishfilledy, prent experience free to achieve out to your Human Resources business partner with any asks.
We thank you for your cooperation and help in making this set up a success and enabling Lionsgate to fortify its position as a global amusement directer.
Sincecount on,
Jon
