Entertainment One Lays Off 20% Of Staff Ahead Of Sale

Nellie Andreeva
·2 min read

EXCLUSIVE: Hasbro-owned Entertainment One is undergoing a round of layoffs sources tell Deadline. The reduction is said to impact about 20% of the indie studio’s film and television staff.

“This workforce reduction is part of the ongoing transformational changes Hasbro announced in January to substantially reduce costs and increase growth rates and profitability,” Hasbro spokesperson Roberta Thomson said in a statement to Deadline, declining further comment.

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Hasbro’s plan, announced in January, involves cutting 15% of the company’s global workforce this year, or about 1,000 positions.

The eOne layoffs follow Nick Meyer’s announcement last month that he was exiting as the indie studio’s President of Film when his contract ends in June.

They also come as Hasbro is in the final stage of selling a majority stake in the bulk of eOne’s film and television assets. Lionsgate had recently emerged as a frontrunner in the process but sources had cautioned that there is nothing definitive and things could change. The other two companies that had been bidding in the final round are Legendary and distributor GoDigital Media Group.

Hasbro CEO Chris Cocks told investors in February that he expected the sale to close by end of Q2.

UPDATE: Deadline has obtain. a copy of the company memo sent out today by Steve Bertram, President, Film & Television, about the layoffs.

Dear all,
 
I am writing today to let you know that as part of Hasbro’s cost-cutting initiatives announced in January, there is going to be a reduction in our eOne Film & TV workforce. Currently we anticipate an overall reduction of around 20%. We expect all potentially impacted employees to be notified in the next few weeks, and will work in accordance with local legal requirements.  
 
You’ve all endured a very challenging working environment since Hasbro announced its intention to sell the majority of our business. Despite the noise, and the rumors in the press, you all have done an outstanding job of pushing the business forward.  
 
I recognize that the next few weeks are going to be very difficult, particularly for those that may be directly impacted. Please do not hesitate to reach out to me, the senior team and HR for whatever support you need.
 
Sincerely,
Steve

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