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Deadline has confirmed that Lionsgate has put re-structuring in effect largely in their film marketing and distribution departments, laying off a company- wide number in the high teens according to a source familiar with the matter. I understand this was in the works for some time, and in no way related to the great COVID-19 recession which is causing a number of furloughs and layoffs nationwide.
From what we understand, no other layoffs are planned.
Since Joe Drake took over as chairman of the film group two years ago, this is the second-round of layoffs at Lionsgate, with 25 let go in January 2019, also from the marketing and distribution divisions at the company’s Santa Monica, CA HQ.
Like many distributors in the U.S. exhibition shutdown, Lionsgate has undated a number of key spring movies including genre pics Antebellum, Run and Saw reboot Spiral starring Chris Rock and Samuel L. Jackson. The next movie officially dated for Lionsgate is Deon Taylor’s Hilary Swank thriller Fatale.
Lionsgate’s holiday Rian Johnson whodunit hit Knives Out was huge for them, earning $165.3M stateside, and playing wide for a straight 12 weeks in a row. Lionsgate CEO Jon Feltheimer said during the company’s third-quarter earnings call that a sequel is officially a go with Johnson directing again, with the director telling us that the follow-up would be another mystery with Daniel Craig’s sleuth Benoit Blanc. Overall, Knives Out grossed $311.6M WW.