Sundance Institute out of its total workforce of around 180 People is laying off about 11 People roughly accounts for 6 percent of the total workforce.
This decision is taken based on their new Hollywood restructuring model seeing the economic uncertainty looming over the Film Industry and growing chances of recession with an increase in Fed Rates by Federal Government across different countries and Its difficult for non-profit organizations like Sundance to survive.
Sundance Institute Layoff – Department Affected
This Layoff will affect Sundance Institutes’ all Major Departments across various countries except Its London Office.
Right Now, Sundance Institutes is focussing more on preserving its core artistic competency and getting rid of all non-core work and departments.
All the 11 People at Sundance was notified today on Wednesday the 29th of June 2023 of their departure.
What Joana Vicente has to Say on the Layoff
Joana Vicente, CEO of Sundance Institute told.
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.
Vicente further added that for all the Lay-offs happened, We did a “rigorous” review of all the employees and posted that we have taken that decision.
She further added,
We have a strong mission, impactful and life-changing programs for artists, and a community focused on discovering and supporting artists – artists who help change culture, entertain, and move us. As you know, we are working on a 3-5 year strategic plan focused on refreshing the Institute’s priorities, business model, and operations; today’s organizational changes work in concert with this.
What Sundance Institute Does?
Sundance Institute provides grants and brings filmmakers, voice and storytelling, documentary makers, and various artists on a single platform for creative collaboration. They are supported by various generous donations and by selling their artistic works.
They organize various artistic festivals to generate grants and sell their artistic works. Sundance has also moved now to an Online mode now with Covid forcing it to move more in this direction.
Sundance Institute Film Festival Updates and Fundings
This year also saw a great number of participants and attendees to the Sundance Film Festival But still, It was a lot less in compare to earlier years. And their digital sales also dropped post-pandemic.
In June Month, Sundance Institute also announced that they have received a 4 million dollar gift for its program from Federated Indians of Graton Rancheria.
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Sundance Institutes Collab – A Platform for all artists to come together
Sundance Institute also runs a Collab So that various artist can meet and collaborate together for the film and Voice artistic work.
