Staff cuts at Starz
November 6, 2023
Starz, the US cable and satellite network is cutting around 10 per cent of its workforce as it lays the groundwork for its separation from Lionsgate in early 2024. Additionally, Starz will exit the UK and Australia as parent company Lionsgate continues to scale back its international footprint.
Starz CEO Jeffrey Hirsch announced the measures in a staff memo.
“As difficult as it is, with many of our employees being impacted, we are making these changes to align our organisation with the growth areas of the business and to prepare us for our next chapter as a standalone company,” said Hirsh. “What has been instrumental to our successful transition from a linear-only business into the new digital world, has been our laser focus on the changing environment, anticipating what lies ahead and adapting the organisation to succeed in this disruptive environment. It’s why we continue to stand out as one of the only profitable premium networks.”
“As I have said many times before, I believe that we have the best team in the business and appreciate the contribution of each employee, which makes these organisational changes even more difficult. We are committed to ensuring that those impacted today are supported and their transition is as easy as possible,” continued Hirsh. “We will have the opportunity to discuss these changes and more in our upcoming Business Update and in the meantime your leaders will be sharing information specific to your area of the business.”