Hollywood’s wave of job cuts is continuing, with a popular Los Angeles-area post-production studio announcing plans to eliminate more than 80 positions.
Roundabout Entertainment, which is based in Burbank, plans to lay off 81 employees beginning Dec. 29, according to the Los Angeles Times.
An executive who was not authorized to discuss the planned reductions told the newspaper that the layoffs are part of a restructuring effort initiated by the company’s new ownership.
Founded in 1992, Roundabout Entertainment operates locations in Santa Monica and Atlanta. The company does not produce films; instead, it provides end-to-end post-production services, including color correction and subtitling.
The announcement comes as Disney weighs thousands of layoffs and has instructed managers to identify 20% in annual cost savings under new CEO Josh D’Amaro.
Disney also laid off roughly 200 employees in September. During the summer, the company cut nearly as many positions across Pixar, National Geographic and ESPN.
Concerns about widespread layoffs across the entertainment industry have intensified following Paramount’s merger with Warner Bros. Discovery. Paramount CEO David Ellison has pledged to generate at least $6 billion in annual savings within three years—a target that could result in thousands of job cuts.
A 120-day report examining the potential economic and workforce effects of the Paramount and Warner Bros. Discovery deal also found that “4,500 direct film and television jobs, more than 10,000 total job-years, and $4.06 billion in business output are at risk.”
In September, Gov. Gavin Newsom signed two bills aimed at supporting California’s film industry by expanding the state’s television tax credit program. This week, he also called for a $1 billion Hollywood tax following massive layoffs across the entertainment sector.