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Fifth Season Undergoes Layoffs; Eight Executives Leaving<\/h3>\n
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WGA Says AMPTP’s Latest Contract Offer “Is Neither Nothing, Nor Nearly Enough”<\/h3>\n
It is the second time this year that the business, which is now majority owned by Korean studio CJ ENM, which paid $785M for an 80% stake, has had to make cuts following layoffs in April.<\/p>\n
The company is run by Graham Taylor and Chris Rice, who are Co-CEOs. Joe Hipps runs the TV side of the business as EVP, TV Development and Production and Alexis Garcia runs the film group.<\/p>\n
On the TV side, it is also behind See, Killing Eve, The Night Manager, Tokyo Vice,<\/em> and upcoming projects such as Alma Har’el’s Lady in the Lake<\/em> starring Natalie Portman for Apple. On the film side, it is responsible for The Lost Daughter, Cha Cha Real Smooth<\/em> and Tom Brady’s 80 For Brady.<\/em><\/p>\n “Today we made the difficult decision to reduce Fifth Season’s headcount due to the impact on our business operations as a result of the ongoing dispute between the AMPTP and WGA & SAG-AFTRA. This resulted in the loss of 30 positions across executive and administrative roles, approximately 12% of our workforce. Our team is extraordinary and the reduction of staff by even one individual, let alone many, is heartbreaking. We are hopeful the growing financial, creative, and emotional toll of these strikes can be curtailed with a swift resolution and that every person in our industry can return to the business we are all passionate about: storytelling. We will emerge from this period well-positioned and ready to return to producing great films and television series,” said a Fifth Season spokesman.<\/p>\nMust Read Stories<\/h2>\n
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