Burbank-based post-production studio Roundabout Entertainment plans to lay off 81 employees, the latest sign of contraction in L.A.’s struggling film and TV industry.
The job cuts are set to take effect Dec. 29, according to a filing with the state’s Employment Development Department.
The reductions are part of a restructuring plan initiated by new owners, said an executive at the company who was not authorized to comment.
A representative for Roundabout did not respond to a request for comment.
Post-production in Southern California has been reeling from an unprecedented industry contraction, partly due to the flight of filming to other states and countries.
California’s share of U.S. post-production employment has fallen from 53% to 42% over the last 13 years, according to CVL Economics, an economic consulting firm. The state had about 12,000 post-production jobs last year, CVL Economics said. More than 80 film and television production service businesses across L.A. have closed since 2022.
Gov. Gavin Newsom recently signed California’s first stand-alone post-production credit to combat the decline. With a budget of $10 million, the program will allow a 35% to 50% credit on qualified expenses related specifically to post-production work done in California, even for productions that don’t shoot in the state.
Founded in 1992, Roundabout Entertainment has locations in Burbank, Santa Monica and Atlanta. The full-service post-production company offers services such as color correction, syndication and subtitling, according to its website.
In recent years, Roundabout has worked on major projects, including recent Oscar winner “One Battle After Another,” the 50th anniversary restoration of “One Flew Over the Cuckoo’s Nest” and Netflix’s animated comedy “Leo.” Its clients include Walt Disney, Amazon, Sony and Universal.
Earlier this week, Newsom call for an expansion of California’s current Film and Television Tax Credit Program from $750 million to at least $1 billion annually. The expansion would allow the credits to be applied to actors’ salaries and be extended through 2040.
“California created the modern entertainment industry,” Newsom said in a statement. “We’re the capital of entertainment and we’re going to keep it here.”
Times staff writer Ella Chakarian contributed to this report.
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