Hello Sunshine Lays Off Half Of Staff In Wake Of Acquisition By Reese Witherspoon And Mediawan
By Dade Hayes
Hello Sunshine, which was recently re-acquired by co-founder Reese Witherspoon alongside France-based Mediawan, is laying off half of its staff. The company produces film and TV titles along with maintaining a Witherspoon-branded book club. It is letting go of about 30 workers, a source familiar with the cutbacks told…
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Acquisition
The purchase of one company by another, giving the buyer control of the target's business.
Acquisitions can speed growth for the buyer but raise competition and job concerns.
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