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 December 29, according to the Los Angeles Times.
An executive who was not authorized to discuss the planned layoffs told the outlet that the cuts are part of a restructuring effort initiated by the company’s new owners.
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 finishing services, including color correction and subtitling.
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The announcement comes as Disney considers thousands of job cuts and has instructed managers to identify 20% in annual cost savings under new CEO Josh D’Amaro.
Disney laid off roughly 200 employees in September. Over the summer, the company also dismissed nearly the same number of workers from Pixar, National Geographic and ESPN.
Following Paramount’s merger with Warner Bros. Discovery, concerns about sweeping layoffs have spread throughout the entertainment industry. CEO David Ellison has pledged to deliver at least $6 billion in annual savings within three years—a goal expected to translate into thousands of job cuts.
A 120-day report examining the potential economic and workforce effects of the Paramount and Warner Bros. acquisition likewise 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, amid the entertainment sector’s widespread layoffs, he also called for a $1 billion Hollywood tax.