Sony Pictures Entertainment to cut hundreds of jobs in global shake-up
SPT’s Lord of the Flies for the BBC
Sony Pictures Entertainment (SPE) is set to axe hundreds of roles as part of a global reorganisation designed to position the company for future growth, CEO Ravi Ahuja has announced.
The cuts, which are taking place across Sony Pictures Television (SPT), the motion picture group and corporate, began on Tuesday and are set to continue over the coming months.
The lay-offs will affect a few hundred positions globally, C21 understands. A source with knowledge of the plans said the restructure is “not a cost-driven exercise, but rather targeted and strategic.”
In a memo to staff, Ahuja characterised the cuts as “refining our organisation for the next phase of growth” and “aligning [the company] with where the business is going – not where it has been.”
As part of the restructure, Game Show Network (GSN) is being placed under president of gameshows Suzanne Prete. As a result, John Zaccario will leave his role as GSN president this summer after 18 years with the network. SPT Studios executive VP of comedy development Colin Davis is also exiting after three years.
These departures come after it was announced last month that Eli Holzman and Aaron Saidman, who led SPT’s non-fiction group, were leaving. With Holzman and Saidman gone, the non-fiction group was moved under SPT Studios president Katherine Pope.
US espionage series The Night Agent
US series produced under the SPT umbrella include The Last of Us, The Night Agent, The Boys, For All Mankind, Dark Matter, God of War, American Hostage, Doc and S.W.A.T. Exiles, while SPT’s UK production companies Bad Wolf and Eleven produce HBO’s Industry and the BBC’s Lord of the Flies respectively. On the unscripted side, its roster of titles includes Shark Tank, American Idol, The 90 Day Fiancé, Wheel of Fortune and Jeopardy!.
SPE has made several other major moves in recent months, acquiring WildBrain’s 41% stake in the Peanuts franchise for around US$390m; commissioning a YouTube-exclusive Jeopardy! spin-off, closing its Pixomondo visual effects studio and signing a global ‘Pay-1’ movie deal with Netflix estimated to be worth over US$7bn.
One of the goals of the restructure is to enable SPE to invest more heavily in its franchises, gameshows, anime, live experiences, YouTube-first content and screen adaptations of PlayStation games.
SPE, which is part of Japanese conglomerate Sony, was the only major studio to sit on the sidelines while the streaming wars broke out – a move that has been hailed almost universally as savvy, as many of its rivals incurred billions in losses. In his memo, Ahuja said the independence of SPE’s studio operation means it is “uniquely well positioned for this moment.”
“The demonstrated value of our independent television and film studios offers us the flexibility to move with the market – to partner broadly, match projects with the right platforms, and support our creative partners in bringing great stories to life,” he said. “Furthermore, we are underpinned by strong franchises and brands. And our connectivity to the broader Sony Group ecosystem centres us for accelerated growth in anime and game IP adaptations.
“This organisational shift is about reorienting to thrive in a changing industry. By aligning our structure and resources more closely with our strategic priorities, we will move forward with greater clarity and momentum and be better equipped for innovation and resilience.”
