Fifth Season has laid off approximately 10% of its workforce, TheWrap has learned. Roughly 20 individuals of the 160-person staff at the production and distribution company were impacted Tuesday.
The news came as TheWrap previously reported that Fifth Season co-CEO Chris Rice had opted not to renew his contract and will exit the company at the end of the year. Fifth Season’s other co-CEO Graham Taylor will take the helm as the company’s sole CEO.
Rice will remain as an advisor to the company and continue working across some Fifth Season projects. He also will produce through a first-look deal with the studio.
“Fifth Season is an entertainment industry leader specializing in the development, production, financing and distribution of premium films, television series and documentaries,” the company’s official description reads. “Known for our artist-first approach, we combine the strength of a big studio with the spirit and passion of a startup to create some of the industry’s most successful titles. We operate a robust global distribution infrastructure, as well as production hubs across North America, Europe, and Asia.”
Fifth Season’s notable credits include Hulu’s “Life & Beth” and “Nine Perfect Strangers”; HBO Max’s “Tokyo Vice” and “Scenes From A Marriage”; Prime Video’s “The Lost Flowers of Alice Heart”; and Apple TV+’s “Surfside Girls,” “Truth be Told,” “Lady of the Lake,” “The Savant,” “Chief of War,” “See” and “Severance.”
The layoffs came amid larger consolidation across the industry, including just earlier Tuesday cuts at Amazon MGM Studios, which included high-profiles executives like series casting head Donna Rosenstein.
A rep for Fifth Season did not respond to TheWrap’s request for comment.
Deadline first reported the news.
