Lionsgate Reports Home Entertainment Job Cuts as Studio Transitions to Digital Platforms
Lionsgate confirms it reduced its home entertainment division by ten jobs on May 20 as it transitions from packaged media to digital platforms to market boxoffice performers like The Expendables and its Tyler Perry film franchise.
TORONTO -- Lionsgate Entertainment on Monday confirmed media reports of recent layoffs, indicating ten employees, or 2% of its 500-strong workforce, have left its home entertainment division.
But sources at Lionsgate insist the May 20 layoffs were partly offset by new hires on the digital side of the mini-studio’s business as it transitions from packaged media to digital platforms.
Vancouver-based Lionsgate also said the workforce reduction was a one-time event, and not part of an on-going cull.
- Prince Takes Over the 'Arsenio Hall Show,' Debuts New Funky Song
- A Train, a Trestle and 60 Seconds to Escape: How 'Midnight Rider' Victim Sarah Jones Lost Her Life
- 'Divergent' Star Shailene Woodley: The Next Jennifer Lawrence?
- 'Noah' Banned in Several Middle Eastern Countries
- Lindsay Lohan's OWN Series Gets First Official Trailer (Video)
- MOST SHARED
- MOST POPULAR
- Sheila MacRae Dead: 'Honeymooners' Actress Dies At 92
- Russell Brand Says There's Only One Explanation For Philip Seymour Hoffman's Death (VIDEO)
- This Guy's Acapella Version Of Mike Tyson's 'Punch Out' Will Make You Nostalgic (VIDEO)
- Conan O'Brien Gives Body-Slam Filled Review Of The WWE 2K14 Video Game