EXCLUSIVE: More details are emerging about the restructuring in the film division of Fifth Season earlier this week. Along with the change at the top of the unit, with Alexis Garcia stepping down to launch a new venture Fifth Season’s backing and Christopher Slager being promoted to replace him as Head of Film, there were layoffs across the division, sources tell Deadline.
A total of nine employees were impacted, the majority of them in BA as the indie studio no longer will have an in-house BA team. Instead BA services will be outsourced to firms that have larger infrastructure to accommodate a growing development and production slate while also delivering cost savings.
Also leaving as part of the cuts are one creative executive, Janice Lee, VP Film Development and Production, and a VP Physical Production, sources said. Fifth Season’s TV operation was not impacted.
In a recent Q&A with Deadline, Fifth Season co-CEO Chris Rice reflected on the studio’s two rounds of layoffs in 2023; the company reduced its workforce by 2% in April and by another 12% in August, the latter tied to the impact of the double Hollywood strikes.
“I think you will struggle to find a company of any size that didn’t do that,” he said. “Because primarily, we are a production business, and there was of course five months, no production. That obviously has consequence on our business. Those kinds of decisions are horrible decisions to make and just not at all fun.”