Staffing cuts represent five percent of the indie studio’s work force
Relativity Media laid off 10 people from its marketing and operations departments on Thursday, TheWrap has confirmed.
The move comes as the studio is preparing to release Steven Soderbergh's action thriller "Haywire" on Friday and is preparing for the March release of its big-budget Snow White film, "Mirror, Mirror."
The layoffs represent five percent of the studio's work force, according to an individual with knowledge of the staffing cuts. Relativity has just under 200 employees.
The individual said no further cuts are planned and that the layoffs were part of studio-wide "belt-tightening." There have been a number of executive departures at the studio lately, including chief operating officer Brian Edwards, who left the company in October.
For much of the past year, Relativity had struggled to find a financial backer to replace the hedge fund Elliott Management. However, it is in a more stable position after billionaire Ron Burkle announced earlier this month that he would buy a minority stake in the company.
A spokeswoman for Relativity declined to comment.