Weinstein Company Braces for Layoffs (EXCLUSIVE)

The Weinstein Company will lay off between 40 and 50 staffers next week, Variety has learned.

The staffing cuts will not impact the indie studio’s television unit. They will be solely focused on its film operations, and sources say no senior management will be pink slipped. Most of the cuts will involve junior staffers and a few mid-level executives.

The staff reductions will be across multiple divisions, including publicity, distribution and legal. Cuts will be made in the studio’s New York, Los Angeles and London offices. The company currently has roughly 215 employees.

Radius-TWC, the boutique label behind “The Hunting Ground” and “Citizenfour,” will also be impacted. Its founders, Tom Quinn and Jason Janego, left the company last summer to start their own independent label.

Reached for comment, Weinstein Company COO David Glasser confirmed that cuts will take place next week and said the purpose of the layoffs was to reduce the film division’s overhead to make the company more efficient. He cited upcoming releases such as Quentin Tarantino’s “The Hateful Eight,” Todd Haynes’ “Carol” and “The Founder” with Michael Keaton, as evidence that the studio is well positioned going forward.

“We have one of the best slates we’ve ever had, but this is about looking ahead to how do we grow the business,” said Glasser.

Popular on Variety

This year has been a mixed bag at the box office. The studio scored with the Helen Mirren drama “Woman in Gold” and the family film “Paddington,” but it lost money on the Bradley Cooper dramedy “Burnt.”

The television business, which counts Netflix’s “Marco Polo” and the reality show “Mob Wives” among its programs, is seen as a more reliable source of revenue. A deal for British network ITV to acquire the television business collapsed last May, but insiders say there are two to three companies looking at buying a stake in the division.

Glasser nearly left the company last summer, and flirted with taking a position at DreamWorks Animation. However, he ultimately relented, signing a new deal that will keep him at the Weinstein Company through 2018.

“In coming back one of the key things for me was to focus on making this a tighter, smarter, nimbler company,” said Glasser. “We have an incredible group of people who work here, but it was very important to tighten up the team.”

More Film

  • ‘On the Record’: Film Review

    'On the Record': Film Review

    “On the Record,” a documentary that presents the former music executive Drew Dixon’s accusations of sexual harassment and rape against the hip-hop mogul Russell Simmons (it includes several other Simmons accusers as well), is the fourth major documentary of the #MeToo era to offer an incendiary indictment of men who have used their power within [...]

  • Pain and Glory

    Pedro Almodóvar’s ‘Pain and Glory’ Sweeps Spanish Academy Goya Awards

    MADRID — Pedro Almodóvar’s “Pain and Glory” took home Best Picture, Best Director, Best Actor (Antonio Banderas) and Best Original Screenplay at the 34th Spanish Academy Goya Awards, as well as Best Editing, Original Music and Supporting Actress (Julieta Serrano). Almodóvar’s night did have one blemish, however. On the red carpet ahead of the ceremony [...]

  • Timmy Failure-Mistakes Were Made Disney Plus

    'Timmy Failure: Mistakes Were Made': Film Review

    The passive voice is crucial to the title of “Timmy Failure: Mistakes Were Made,” a Disney kid-detective caper with a clear enough moral: that owning your errors and apologizing for them is an essential part of growing up. If any individual mistakes have been made in the film itself, however, they’re as hard to pick [...]

  • Wander Darkly

    'Wander Darkly': Film Review

    Miserable parents Adrienne (Sienna Miller) and Matteo (Diego Luna) can’t afford therapy. Instead, Adrienne settles for a free Date Night, a casual party that only reminds the couple of their problems: his wish to regress to a slacker-style flophouse, her resentment that he’s never proposed, which has begun to curdle into a suspicion that they’re [...]

  • Mortal

    Saban Films Nabs U.S. Rights to André Øvredal Fantasy Thriller 'Mortal' (EXCLUSIVE)

    “Scary Stories to Tell in the Dark” director André Øvredal’s next adventure will see a U.S. rollout from Saban Films. “Mortal,” starring Nat Wolff, has sold domestic rights to the distributor In a deal brokered by Endeavor Content. TrustNordisk handled international rights. Saban president Bill Bromiley, currently on the ground at the Sundance Film Festival, [...]

  • Carey Mulligan poses for a portrait

    Carey Mulligan Suggests Oscar Voters Need to Prove They've Seen the Movies

    Carey Mulligan has made a conscious decision in recent years to collaborate with female directors, from Sarah Gavron (“Suffragette”) to Dee Rees (“Mudbound”). On Saturday night at the Sundance Film Festival, she’ll unveil “Promising Young Woman,” a thriller written and directed by Emerald Fennell, about a heroine out for revenge after experiencing a traumatic abuse. [...]

  • Andy SambergVariety Sundance Studio presented by

    Andy Samberg Calls Hosting the Oscars a 'Bad Gig' -- That He'd Still Consider

    Andy Samberg has been a reliable favorite hosting awards ceremonies, in recent years emceeing the Independent Spirit Awards, the Emmys and the 2019 Golden Globes with Sandra Oh. So it’s only natural to wonder if Samberg would consider taking the reins on the Oscars, which will return again this year without a host. “They have [...]

More From Our Brands

Access exclusive content