Relativity Media “Eliminate 75 Positions” With Bankruptcy Possible

Relativity Media released the following statement today regarding rumours of high profile lay offs occurring within the company:

“As Relativity continues to move forward with steps to strengthen its balance sheet and reduce costs, we’ve made the difficult decision to eliminate 75 full-time positions across several divisions. This is a necessary step to position the company for a strong future. We appreciate the dedication and hard work of all of our colleagues, and we are making every effort to assist and transition those who are leaving the company.”

Those laid off are not expected to receive any severance packages.

The producers of such hits as Fast & Furious 6 (2013), Les Miserables (2012), and 21 Jump Street (2012), are expected to file for bankruptcy later this week according to sources at The Hollywood Reporter, who report that the 11 year old company owe hundreds of millions in debts that they cannot afford the repayments for.

Source: The Hollywood Reporter