Relativity Media Lays Off 10 Employees
Relativity Media, which opens the action thriller Haywire today on 2,440 screens in North America and half a dozen foreign countries, has laid off 10 employees in the operations and marketing departments.
While the company had no official comment, a source insisted this was simply a matter of making adjustments to be more efficient and fiscally responsible, and is not due to financial problems at the company.
Nor, said the source, is it because they need money to pay for four spots that will appear before, during and after the upcoming Super Bowl telecast promoting their upcoming release of Act of Valor.
The total number of employees at Relativity is now just below 200, and the source insisted no other layoffs are imminent.
Haywire is the first of about seven movies that Relativity plans to put in wide release this year, with the biggest expected to be the launch of Mirror Mirror in March, which is their take on the Snow White fairy tale.
Haywire opens across North America and in theaters day and date in the U.K., Russia, Taiwan and Singapore among international territories.
The layoffs come only weeks after billionaire Ron Burkle made a major investment in Relativity, acquiring most of the stake previously held by New York hedge fund Elliott, which remains a minority investor.