Weinstein Co. to cut 40 to 50 jobs next week
Weinstein Co. co-founder Harvey Weinstein speaks during a press conference for the film “Woman in Gold.” The company plans to lay off 40 to 50 people next week.
The Weinstein Co., the New York indie film studio, plans to lay off 40 to 50 workers across its film operations.
The cuts are coming next week, but will not affect the company’s television unit, chief operating officer David Glasser confirmed on Sunday.
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Instead, the job losses are expected to mostly affect junior movie studio employees and middle management, hitting departments such as publicity, distribution and legal. Variety first reported the coming layoffs.
The 10-year-old entertainment company -- founded by brothers Harvey and Bob Weinstein -- has had some successes this year with films like “Paddington,” but has also put out disappointments such as the Bradley Cooper chef movie “Burnt.”
The company has long faced rumors of financial troubles, but in an interview in September, Glasser said this was not the case.
Weinstein Co. is preparing for the Hollywood awards season, and the release of its upcoming Quentin Tarantino movie “The Hateful Eight” and the Cate Blanchett drama “Carol.”
Earlier this year the company lost executives Tom Quinn and Jason Janego, who founded the specialty label Radius-TWC. Glasser had also planned to leave to pursue other executive positions, but ultimately signed a deal to stick with the Weinsteins through 2018.
Follow Ryan Faughnder on Twitter for more entertainment business coverage: @rfaughnder
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