The US film group Lionsgate cut around 50 more jobs on Thursday - around five per cent of its workforce. The company had already cut a similar number of jobs at the beginning of the year, meaning that a total of around 13 per cent of jobs were lost within nine months.

CEO Jon Feltheimer explained in a letter to employees that the cuts were part of a comprehensive savings programme. The industry is currently facing "unprecedented change and upheaval", which Lionsgate must adapt to in order to remain competitive.

The reorganisation also includes the separation of the streaming platform Starz into an independent company. Lionsgate is also selling peripheral businesses, shifting resources to growth areas and reducing costs.

Feltheimer emphasised that the aim was to make the transition as smooth as possible for those affected. The round of redundancies that has now taken place should essentially conclude the one-year reorganisation process, even if individual departments could still be adjusted.

Despite the cuts, the studio is optimistic about the future. Recent and upcoming film projects include the "John Wick" spin-off Ballerinathe drama The Long WalkAziz Ansari's comedy Good Fortunethe third part of Now You See Me and the film adaptation of the novel The Housemaid with Amanda Seyfried and Sydney Sweeney.

Feltheimer emphasised that Lionsgate continues to have an extensive film and series library, successful franchises and a creative team - the foundations for significant growth again from the 2027 financial year.

Variety reports in detail.