Studio will consolidate its marketing and distribution units
Lionsgate Motion Picture Group Chairman Joe Drake sent an email to staff on Friday announcing a restructuring in the studio’s business operations that will result in approximately 25 people losing their jobs.
“As we continue to adapt our business to the evolving market, we will be centralizing most Motion Picture Group business units to Santa Monica as well as realigning our Domestic and International Marketing Departments into one Global Marketing Group. As some colleagues will be departing, we wish them the very best on their continued career trajectory,” Drake said in the memo to staff. “We are constantly looking at ways to better align our company with our industry’s evolving landscape and therefore the needs of the audience and our customers.”
The majority of the changes are a result of Lionsgate consolidating its marketing and distribution under one roof. The marketing division is run by Damon Wolf, who joined from Sony Pictures and started Jan. 1.
Also Read: Layoffs Hit Billboard, The Hollywood Reporter After Restructuring at Parent Company
The studio had a tough year at the box office in 2018, topping out at $388 million — the company’s worst domestic box office performance since 2011.
