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Lionsgate Offers Voluntary Buyout to Employees As Studio Restructures

The Jon Feltheimer-led company did not specify a target figure for staff reductions but cited a "disrupted business environment" for the move.

In a move to cut costs, Lionsgate is offering employees in the United States voluntary severance and retirement packages, its CEO wrote in a memo to staff on Monday. “As we continue to move toward the full separation of the studio and Starz in a challenging operating environment, Lionsgate’s Executive Committee has approved a multifaceted strategic plan to enhance productivity and achieve greater cost efficiencies,” chief Jon Feltheimer said in the email. That doesn’t include Francis Ford Coppola’s Megalopolis, which the studio distributed but the director self-financed to the tune of a $4 million bow for a $120 million-budgeted feature.

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