Matt Brown, Executive Vice President of Worldwide Commercial at Sony Pictures Home Entertainment is leaving the company as a part of a restructure. According to The Hollywood Reporter, Sony Pictures Entertainment is preparing to tell a large number of employees that they have been let go, and in all of the commotion, Brown decided to leave the company.
In an email to The Hollywood Reporter, Sony had this to say about the exec’s decision:
“Matt Brown, executive vp of worldwide commercial for Sony Pictures Home Entertainment, has announced his retirement effective March 31. During his tenure at SPHE, Matt was a key member of the management team which helped to insure the division’s leadership position in the home entertainment industry. SPHE wishes to express gratitude for his contributions.”
The layoffs that are to come are part of a previously announced plan to cut costs. This initiative started after activist shareholder Daniel Loeb publicly demanded that Sony Entertainment make more money, especially after box office disappointments like “White House Down” and “After Earth.”
Sony has declined to comment on the rest of the layoffs, set to be announced next week, but they are expected to be widespread, including several jobs lost within the motion-picture group. Some people in the movie business are going to be seeing pink slips very soon.
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