Yahoo News Steven Spielberg’s Amblin Partners Cuts 20 Percent of Staff
Steven Spielberg’s Amblin Partners has cut some 20 percent of its workforce, as the company resizes amid a new multiyear deal with Universal. Those leaving the 90- to 100-employee company include staff in marketing, international and post-production.
Under Amblin’s new deal with Universal, the studio will co-finance the company’s movies. Previously, Amblin would find its own financing for movies and then give Universal the chance to distribute those films for a fee.
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Spielberg last directed the Oscar-nominated The Fabelmans, which Universal released. He hasn’t yet announced his next directing project.
The company has in the works an adaption of the novel Hamnet by Maggie O’Farrell, to be directed by Chloe Zhao, and has closed a deal for the rights to the 2024 novel Assassins Anonymous by Rob Hart. Amblin also has a deal with Netflix.
In announcing the new pact with the studio, Spielberg said in a statement, “Universal is my ancestral studio home, and this next chapter in our longstanding partnership will provide Amblin with the creative flexibility and autonomy that I know will allow us to succeed together in the future. I’m eternally grateful to our entire team at Amblin for their work and dedication over the years, and also thankful to Donna [Langley] and everyone at Universal for their commitment and partnership, as we all look forward to our next adventure together.”
Added Langley, chairman and chief content officer, NBCUniversal Studio Group: “We’re excited to evolve our partnership with Steven and cement our creative legacy together that has resulted in so many iconic Universal films over the last half-century. Steven and the team at Amblin have been outstanding partners and we look forward to this next chapter.”
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