Friday, March 9, 2012
Lionsgate-Summit Reducing 12% Of Staff: Film And Residential Entertainment Hit Most difficult
Inside The Summit And Lionsgate Merger: Lay offs Will Be The Order Throughout Your Day BREAKING… EXCLUSIVE: I’ve just discovered that Lionsgate is reducing about 80 staff today within the merged company with Summit, including professionals as at any height as EVP. Affiliates are pleading me not to label this abloodbath because enoughpeople are freaked out already. The integration ofLionsgate and Summit is ongoing, which move was prone to eliminate duplication. Nevertheless it’s still horrible should this happen.Lionsgate is decreasing the combined workforceof the two companies by roughly 12%.It’s unclearhow many employees are actually being informed today.Lionsgate had about 500 employees right before the merger, Summitabout 175 employees.The whole combinedworkforce will probably be roughly 575 making Lionsgate a bigger plus much more muscular company publish-merger.I don’t have summary of the amount of Lionsgate and the way any Summit employees will probably be release, however’m toldmotionpicture and residential entertainment will be the areas while using finest volume of overlappingfunctions.