Lionsgate Layoffs Will Trim Overall Staff By 50; Read Jon Feltheimer's Internal Memo

Group 1 - Lionsgate will reduce its companywide staff by 5%, resulting in a total headcount reduction of 13% after previous layoffs of 8% [1][4] - The layoffs are part of a corporate belt-tightening strategy, aligning with industry trends as companies like Paramount Global also undergo staff reductions [2] - The company aims to enhance efficiency and position itself for future growth by separating Lionsgate and STARZ into independent entities and monetizing non-core assets [3][4] Group 2 - The headcount reduction is described as a difficult decision impacting long-term employees, with efforts to ensure smooth transitions for those affected [4] - Despite the layoffs, the company maintains its core strengths, including a valuable film and television library, premium franchises, and a talented workforce [5] - The leadership expresses confidence in the company's ability to achieve significant growth in the coming years [5]