Entertainment One Lays Off 20% Of Staff Ahead Of Sale

EXCLUSIVE: Hasbro-owned Entertainment One is undergoing a round of layoffs sources tell Deadline. The reduction is said to impact about 20% of the indie studio’s film and television staff.

“This workforce reduction is part of the ongoing transformational changes Hasbro announced in January to substantially reduce costs and increase growth rates and profitability,” Hasbro spokesperson Roberta Thomson said in a statement to Deadline, declining further comment.

Hasbro’s plan, announced in January, involves cutting 15% of the company’s global workforce this year, or about 1,000 positions.

The eOne layoffs follow Nick Meyer’s announcement last month that he was exiting as the indie studio’s President of Film when his contract ends in June.

They also come as Hasbro is in the final stage of selling a majority stake in the bulk of eOne’s film and television assets. Lionsgate had recently emerged as a frontrunner in the process but sources had cautioned that there is nothing definitive and things could change. The other two companies that had been bidding in the final round are Legendary and distributor GoDigital Media Group.

Hasbro CEO Chris Cocks told investors in February that he expected the sale to close by end of Q2.

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