Entertainment One is laying off 10% of its staff in the film and TV divisions, an individual with knowledge of the situation told TheWrap.
The Hasbro-owned mini major employs 1,200 people worldwide. According to Deadline, a memo was sent out on Tuesday by Steve Bertram, president of film and TV, which said, “in evolving with the changing industry dynamics as we have, we must evolve the focus and structure of our organization around the world.”
The memo also said that the decision was not due to the company’s business performance during the pandemic but was made due to the industry having changed over a long period of time.
“To be clear, our reorganization is not a result of poor business performance during the pandemic; the industry has been shifting for a long time with consolidation around the new global platforms,” the memo read. “While we prolonged taking this action for as long as we could as a result of the difficult global climate, it is more important than ever that our organizational structure reflects the needs of the business. And, with the promising creative pipeline across Film and Television in front of us and pandemic recovery hopefully on the horizon, it’s essential that we are set up to take on the opportunities ahead.”
Entertainment One’s credits include films like “1917” and “Spotlight,” and TV or licensing deals for projects like “Fear the Walking Dead,” “The Rookie” and “Designated Survivor.” Hasbro acquired eOne for $3.8 billion one year ago.
Many companies across the industry have recently laid off staff or shuttered divisions — just today, Disney shut down its Blue Sky Studios, which is responsible for the “Ice Age” franchise.
Deadline first reported the news of the layoffs.