Sony Pictures Entertainment is reportedly undertaking a significant restructure, with hundreds of staff set to be laid off across the company’s film, TV and corporate divisions globally.
The news was first reported by Variety, which shared a memo reportedly sent to staff by CEO Ravi Ahuja. Within this memo, Ahuja confirmed a reorganisation with strategic growth priorities, as the company attempts to ‘sharpen’ its strategy and pursue new avenues where the ‘greatest opportunities exist’.
Sources speaking to Variety reportedly denied the cuts were a ‘cost-driven’ exercise.
Sony Pictures layoffs – quick links
Sony Pictures reportedly set for layoffs
As reported by Variety, Sony Pictures is reportedly initiating its layoffs as a means to target new key areas of entertainment, with the following pillars identified: ‘franchise strategy and brand extension (including game shows), anime, experiences, next-gen content, platform-native content and utilisation of YouTube, and Sony Group ecosystem connectivity, including video game adaptations’.
Changes revealed in the company memo, and in prior announcements, include a reorganisation of Sony’s Game Show Group, which will be combined with the Game Show Network; the moving of Sony Pictures Television’s non-fiction division under the oversight of TV studios president Katherine Pope; and the closure of VFX firm Pixomondo.
Pixomondo is a tenured and highly-acclaimed VFX firm, having worked on dozens of blockbuster movies and award-winning TV shows, including Hugo, Star Trek Into Darkness, Game of Thrones, House of the Dragon and more. During its run, it earned two Academy Awards for Best Visual Effects.
In addition to these changes, Variety reports there will be some leadership shifts at the company, with one notable departure being Colin Davis, the now-former EVP of Comedy Development at Sony Pictures.
Sony’s memo to staff
Per Variety, the memo sent to all Sony staff by CEO Ravi Ahuja further outlined an array of new strategic focus areas for the business as it moves into a more uncertain future.
‘Over the past year, we have sharpened our strategy and clarified where we believe the greatest opportunities exist. As we lean into those priorities, we need to operate with greater focus, speed and alignment to strengthen our differentiated capabilities,’ Ahuja reportedly said.
‘To support our growth, we are aligning our organisation with where the business is going – not where it has been. That requires changes to how we are structured and where we invest. With that, we are reducing roles in certain areas while increasing focus and investment in others that are most critical to our future.’
‘This means that some of our colleagues will be leaving the company. These are difficult decisions. They impact talented people who have contributed meaningfully to our work and culture. We are grateful for their contributions, and our P&O teams are committed to supporting them through this transition.’
‘This organisational shift is about reorienting to thrive in a changing industry. By aligning our structure and resources more closely with our strategic priorities, we will move forward with greater clarity and momentum and be better equipped for innovation and resilience.’
As always, our thoughts are with those staff set to be laid off, in one of the toughest times for the global entertainment industry yet.
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