Entertainment One Puts 20% of Employees Before Selling – Deadline

Exclusive: Hasbro-owned Entertainment One is undergoing a round of layoffs, Deadline sources. The cut reportedly affected about 20% of the independent studio’s film and television crew.

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

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

eOne’s layoff comes after Nick Meyer announced last month that he was coming out as the independent studio’s head of film when his contract expires in June.

It also comes as Hasbro enters the final stages of selling a majority stake in the bulk of eOne’s film and TV assets. Lionsgate recently emerged as a frontrunner in the process, but sources caution that nothing is final and things could change. The other two bidders in the final round are Legendary and distributor GoDigital Media Group.

Hasbro CEO Chris Cox told investors in February that he expected the sale to close by the end of the second quarter.

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