Hollywood Grapples With Mass Layoffs as the Biz Redefines Itself for Streaming Future

  • Variety
Hollywood Grapples With Mass Layoffs as the Biz Redefines Itself for Streaming Future
This is the winter of discontent for Hollywood workers, as no level of seniority has been spared from the wave of mass layoffs.

Warner Bros. has been shaken by two rounds of layoffs and a wholesale restructuring that have ushered out veterans with decades of service to the Hollywood studio.

NBCUniversal has rewired the structure of its TV content production and distribution operations, leading to hundreds of job cuts. ViacomCBS has periodically shed bodies by the dozens in the year since its two halves formally tied the knot again in December 2019. AMC Networks last week disclosed it will let go of 10% of its U.S. workforce, or about 100 staffers.

Discovery Inc., Sony Pictures and Lionsgate have also let sizable numbers of staffers go in 2020.

And Jeffrey Katzenberg and Meg Whitman’s short-form video streaming service Quibi shut down just six months after a much-ballyhooed launch last April, leaving thousands of executives jobless.
See full article at Variety »

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