Marvel Lays Off 15 People In New York City and Burbank

Marvel laid off 15 people today in its New York City Marvel Entertainment and Burbank Marvel Studios departments. 

According to Deadline, some of the people who were let go were junior employees working on films and shows at Marvel Studios. This comes after Disney CEO Bob Iger announced at the Morgan Stanley Technology, Media, and Telecom conference in San Francisco that Disney would be cutting back on shows and films.

He said, “You have to kill things you no longer believe in, and that’s not easy because either you’ve gotten started, you have some sunk costs, or it’s a relationship with either your employees or with the creative community. You’ve got to make those tough calls. We’ve actually made those tough calls. We’ve not been that public about it, but we’ve killed a few projects already, that we just didn’t feel were strong enough.”

This year, only one major Marvel film will be released, “Deadpool & Wolverine.” Last year, the box office saw three Marvel films, but only “Guardians of the Galaxy Vol. 3” performed and made money. “The Marvels” was pulled from theaters early and only made $206.1 million. It was the lowest-performing Marvel film in history and likely lost Disney a lot of money. 

At Marvel Entertainment, the cuts were reportedly related to “efficiencies gained by Marvel when they integrated the Marvel Entertainment team into Marvel Studios and other Disney departments” after Bob Iger fired Ike Perlmutter last year.

It’s unclear how many people were fired from each location. However, neither location expects more layoffs.

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Source: Deadline