Hits such as Angel Has Fallen ($147 million), John Wick Chapter 3 ($326 million) and Knives Out ($311 million) can only make up so much ground.
Lionsgate is looking to restructure to stay viable in the future, and these layoffs were a long time coming.
Lionsgate, one of the biggest players in Hollywood outside of the major studios, has issued major layoffs.
This comes after the studio had a mixed year in 2019, with big hits such as John Wick: Chapter 3 – Parabellum and Knives Out to go along with commercial disappointments like Bombshell.