Lionsgate is laying off 15% of its motion picture group, citing the impact of the COVID-19 pandemic.Joe Drake, chairman of the motion picture group, informed employees of the cuts on Thursday. A source said the layoffs will impact about 15% of the department. Lionsgate has about 450 employees."While our business remains fundamentally strong, we are not immune to the ongoing COVID crisis that is impacting us like so many other studios," Drake said in a note to employees. "These demands...
Lionsgate
Joe
Drake
Chair, Motion Picture Group
In late 2017, Drake was named co-chair of Lionsgate’s motion picture group, returning
to the company where he previously served as co-COO and motion picture group president. The position he filled had been vacant for about a year since Rob Friedman stepped down. He first left Lionsgate in 2012 to found Good Universe with Nathan Kahane, now the studio’s motion picture group president. Drake was responsible for the launching of the company’s hit franchises such as “The Hunger Games,” which grossed nearly $3 billion worldwide and made Jennifer Lawrence a global star. He had previously co-founded Mandate Pictures, where he served as president from 2001 to 2007, and prior to that he was senior VP of international theatrical at Rysher Entertainment.