Marvel announced that it underwent a small round of layoffs on Monday, impacting both Marvel Entertainment and Marvel Studios.
The layoffs impacted 15 employees (via Deadline), including junior employees in production and development at Marvel Studios. According to Deadline’s report, additional cuts aren’t expected anytime soon, and the reason for the layoffs on Monday were due to Marvel reassessing its future film slate.
Currently, only one Marvel Studios film — Deadpool & Wolverine — is slated to release in 2024 when the film opens on July 24.
Marvel moves come following consolidation in 2023
Deadline’s report also mentions that some of the cuts made today stem from when Marvel integrated the Marvel Entertainment and Marvel Studios’ teams last year. Marvel Entertainment was run independently at the time, but folded into Marvel Studios in March 2023.
That move is also what led to the dismissal of Isaac “Ike” Perlmutter, who was the previous chairman of Marvel Entertainment. In their Q1 2024 earnings call in February, Disney CEO Bob Iger acknowledged the future of moves coming to Marvel, noting that the company was preparing to reduce output and volume as they recalibrate.
“So, the first step that we’ve taken is that we’ve reduced volume,” Iger said. “We’ve reduced output, particularly at Marvel. When you fix or when you address these issues within movies, you do three things. You get aggressive at making sure the films you’re making can be even better. Sometimes, you kill projects you don’t believe in. And, of course, you put new things in the pipeline that you do believe in that you have much more confidence in, and we’re doing all of that.”
