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Weinstein Co. plans further staff cuts
September 24, 2009 / 3:24 AM / in 8 years

Weinstein Co. plans further staff cuts

NEW YORK (Hollywood Reporter) - Independent film studio The Weinstein Co. will eliminate about 35 positions in various divisions over the coming month.

<p>Harvey Weinstein, of the Weinstein Co arrives at the Sun Valley Inn in Sun Valley, Idaho July 9, 2009. REUTERS/Rick Wilking</p>

TWC is paring down in response to recommendations from Miller Buckfire, the consultancy that has been brought in to help the company bring its numbers into line.

Miller Buckfire has recommended that the mini-major pare its theatrical releases to no more than 10 films per year -- it has been releasing as many as several dozen -- and concentrate on its core business of producing and distributing films. As a result, a number of employees will be let go, though no decisions have been made on which divisions will bear the brunt of the cutbacks. News of the staff reductions was first reported Wednesday by the New York Post.

The cutbacks are likely to take the form of layoffs as well as attrition, with some contracts not being renewed.

The Weinstein Co. endured a round of layoffs this year and now has slightly more than 100 employees. After this round, the company will sport a staff of 70 to 80 people.

TWC is prepping a number of fall and awards-season hopefuls, including “The Road,” starring Viggo Mortensen; Rob Marshall musical “Nine”; and recent Toronto International Film Festival pickup “A Single Man,” the directing debut of designer Tom Ford.

Editing by SheriLinden at Reuters

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