Independent studio Miramax has laid off another 20 employees as the company continues to cut costs under new CEO Bill Block.
The latest round of layoffs, which includes sales and finance support staff, is the second such culling for Miramax in a matter of months. The once-powerful mini-major studio fired 25 employees, comprising most of its TV production staff, in May.
“After careful consideration and consultation with the board, I have decided to reorganize the team at Miramax,” Block said in a statement at the time. “This reorganization will allow me to lead a streamlined Miramax to grow in film, television and the licensing of our impressive library.”
However, it evidently wasn’t streamlined enough, as Miramax axed a significant number of employees just three months later. Miramax has dealt with a substantial amount of corporate and personnel turnover since BeIN Media Group, a subsidiary of Qatar’s Al Jazeera, acquired the indie last March. CEO Stephen Schoch stepped down in December and was replaced by veteran producer Block in April after a period in which an Al Jazeera executive served as interim boss.
Miramax’s upcoming projects include the Johnny Depp-Forest Whitaker police drama “LAbyrinth,” which Miramax will co-finance with Open Road Films. It also has the U.S. distribution rights to the Tonya Harding biopic, “I, Tonya,” starring Margot Robbie.
Disney, which had acquired Miramax from co-founders Bob and Harvey Weinstein in 1993, sold the indie unit to a group of investors for $660 million in 2010.
The Los Angeles Times first reported the news.