Likewise, nearly a third of United Artists Releasing — a joint venture between MGM and Annapurna — was furloughed
MGM has cut some 50 staffers from across the studio in the latest round of layoffs to hit Hollywood in the wake of the coronavirus-related shutdowns.
The MGM cuts follow a series of Hollywood layoffs and furloughs that have affected agencies like Endeavor and Paradigm and such studios as Disney Lionsgate. While MGM remains in a strong position overall, the extraordinary events related to the global pandemic have impacted our entire industry, with virtually all global productions currently on hold and film releases delayed. The most difficult part of this situation from a business perspective, as you can imagine, is that we do not know when this will change.
The MGM senior management team have taken voluntary pay reductions across all divisions of the company.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
N.Y.'s Met Museum Projects $150 Million Shortfall, Lays Off 81 EmployeesOne of New York City's biggest tourist attractions and the U.S.' largest art museum says that it has revised its budget shortfall projection — some $50 million greater than just a month ago.
Read more »
State, local governments expecting layoffs amid push for federal assistanceState and local governments across the country are expecting to lay off workers in the near future, lamenting that a new stimulus bill is not providing them with additional funds.
Read more »
As Turkey locks down, refugees are the first to sufferTurkey is sliding into economic meltdown. Millions of migrants and refugees living there will be hit first, and the hardest
Read more »
As Turkey locks down, refugees are the first to sufferThe EU offered Recep Tayyip Erdogan $6bn in 2015 to look after refugees. He will likely return for additional funding
Read more »
Endeavor Plans Layoffs, Furloughs and Pay Cuts for One-Third of EmployeesEndeavor is gearing up for lay offs, furloughs and pay cuts across all divisions and company holdings
Read more »
Poll: Nearly 80% Of Laid Off Americans Believe Jobs Will ReturnIn the past five weeks, 26 million Americans filed for unemployment.
Read more »