MGM Studios lays off 7% of staff as coronavirus continues to hit Hollywood [Los Angeles Times (CA)]
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Source: Los Angeles Times
Metro-Goldwyn-Mayer Studios, the entertainment company behind the James Bond franchise, is making permanent cuts to its workforce as the coronavirus crisis continues to hit employment in Hollywood. Executives at Beverly Hills-based MGM disclosed the cuts in a Friday memo to staff, citing the COVID-19 pandemic that has shuttered film and TV productions and forced studios to delay movie releases as theaters remain shut down. MGM is cutting 7% of its 750-person workforce, resulting in roughly 50 layoffs across multiple divisions, according to a person familiar with the matter who was not authorized to comment. Variety first reported the cuts. “We are reconfiguring certain divisions of the studio to allow MGM to operate more effectively in a changing media landscape, both during this pandemic, and beyond,” MGM’s leadership wrote. “Unfortunately, these changes necessitate some permanent reductions of our workforce.” MGM’s newest 007 feature, “No Time to Die,” was among the first major film
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