Sundance Institute Lays Off 11 Staffers Citing Economy and Fundraising Problems
thewrap.comThe Sundance Institute has undergone a round of layoffs, TheWrap has confirmed. CEO Joana Vicente made the announcement to staff on Wednesday, and the staff cuts will impact 11 employees across multiple departments or 6% of the 180-person organization.
As Vicente stated in a memo to staff, the contents of which have been confirmed as accurate by TheWrap, “We entered FY23 with a deficit, and it has gotten more expensive to run the Institute due to rising costs from inflation, a drop in our earned revenue, and a more challenging fundraising climate.” The Sundance Film Festival returned with its in-person screenings following two years of digital festivals amid the COVID-19 pandemic.
The Institute was recently granted the largest endowment in its history, $4 million from the Federated Indians of Graton Rancheria that will go toward supporting Sundance’s indigenous talent programs.
Sundance is just the latest entertainment or media company to suffer downsizing in recent months, with staff cuts impacting the likes of Disney, Warner Bros.
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