Lionsgate Hit With Layoffs as 50 Staffers Cut

Lionsgate was hit with layoffs on Thursday as 50 staffers, or approximately 5% of its workforce, were let go.

The company had endured layoffs earlier this year as 5% of workers were notified their jobs were eliminated, representing a total headcount reduction of 13% over the past nine months. These additional layoffs are part of corporate cost-cutting measures amid an “industry environment characterized by unprecedented change and disruption,” Lionsgate’s CEO Jon Feltheimer said in a note to staff.

“We are continuing to adapt our organization to these changes in order to compete successfully,” Feltheimer wrote in the memo. “As part of this process, we separated Lionsgate and Starz into independent standalone companies earlier this year, and we are continuing to monetize non-core assets, re-allocate our resources to growth areas of the business and reduce costs.”

In Thursday’s memo and during the company’s most recent earnings call, Feltheimer acknowledged some of the…