Popular film company, Sony Pictures Entertainment has begun a major restructuring that will lead to job losses across its film, television and corporate divisions in the coming months.
In a memo to staff on Tuesday, Chief Executive Officer Ravi Ahuja said the company is reshaping its structure to reflect changing industry realities.
“We are aligning our organization with where the business is going not where it has been,” Ahuja wrote, adding that the changes will affect how the company allocates resources and invests in key areas.
The restructuring will impact “a few hundred” employees globally, with some roles being reduced while others receive increased investment.
Sony Pictures operates under Sony Group, which also owns platforms such as PlayStation, a major anime business, and one of the world’s largest music divisions. The company said it is working to better integrate these assets as part of its long-term direction.
Since taking over the leadership role just over a year ago, Ahuja has pushed a strategy focused on expanding franchises and diversifying content. This includes investments in game shows such as Jeopardy!, anime productions, video game adaptations and digital platforms like YouTube.
The job cuts come at a difficult time for the entertainment industry, which continues to grapple with the fallout from the 2020 COVID-19 pandemic, prolonged labour strikes and a steady decline in traditional cable television.
Studios across Hollywood have reduced spending in recent years, leading to widespread layoffs as companies adjust to shifting audience habits and new distribution models.
