US-based producer, financier and sales company Fifth Season – formerly known as Endeavor Content – is cutting 12% of its workforce as a result of the Hollywood writers and actors strikes.
The company, whose credits include Severance, Killing Eve, Omnivore, The Night Manager and Normal People, has laid off 30 people.
Fifth Season, which is 80%-owned by South Korean giant CJ ENM, went through a redundancy round earlier in the spring when it laid off eight employees.
The ongoing writers and actors’ strikes have brought production to a virtual standstill in the US, although some independent productions have been able to move ahead.
Read more Disney, Amazon and Netflix: ‘The New Gatekeepers of Media”
“Today we made the difficult decision to reduce Fifth Season’s headcount due to the impact on our business operations as a result of the ongoing dispute between the AMPTP and WGA & SAG-AFTRA,” said a Fifth Season spokesperson, quoted in Variety and Deadline.
“This resulted in the loss of 30 positions across executive and administrative roles, approximately 12% of our workforce. Our team is extraordinary and the reduction of staff by even one individual, let alone many, is heartbreaking.
“We are hopeful the growing financial, creative, and emotional toll of these strikes can be curtailed with a swift resolution and that every person in our industry can return to the business we are all passionate about: storytelling. We will emerge from this period well-positioned and ready to return to producing great films and television series.”
Read more IBC2023: Warner Bros. Motion Picture Group to Receive International Honour for Excellence
No comments yet