More cuts hit eOne ahead of Lionsgate deal closure

The job losses are in addition to the 20% workforce reduction that was confirmed by Hasbro in June.

A dditional job cuts are coming to Entertainment One (eOne) in advance of the closure of its sale to Lionsgate.

A portion of employees have been notified that they either will not be continuing at Lionsgate, or will only be doing so for a short transitional period, Playback understands.

The number of employees impacted has not been disclosed by Lionsgate or Hasbro, but a number of U.S. trades have reported the cuts represent roughly 10% of the current workforce.

Hasbro announced in August that it will be selling eOne’s film and TV assets, and its share in its Canadian business, to Lionsgate for US$500 million. The deal is expected to close in the final week of December.

The news marks the second round of cuts at eOne this year. Hasbro confirmed a 20% reduction in eOne’s workforce in June as part of strategic cost-cutting measures, which impacted 15% of Hasbro’s global workforce.

Hasbro retains a number of eOne’s kid-friendly series and IP, including Peppa Pig. The company acquired eOne in 2019 for US$3.8 billion.