Lionsgate to cut 5% of staff in latest headcount reduction, Deadline reports

Lionsgate plans to cut its companywide employee count by 5%, with approximately 50 staff exiting in a move that is in addition to a previous reduction, Deadline’s Mike Fleming Jr. reports. The earlier layoff amounted to about 8% of staff. In an internal memo, Lionsgate CEO Jon Feltheimer said that the company continues to operate “in an industry environment characterized by unprecedented change and disruption, and we are continuing to adapt our organization to these changes in order to compete successfully.” The job cuts are “difficult decisions impacting colleagues with whom we have collaborated for years and who have made valuable contributions to Lionsgate’s success, and we will make their transitions as smooth as possible,” Feltheimer said.