Independent production and finance company Bold Films, who is known for taking chances on new filmmakers and pumping out some high-quality films, laid off about half of their staff on Friday which included senior VP production and development executive Lisa Zambri who is pregnant. Another who has left is creative executive Kate Ritter who has already found other work in Telluride. Dominic Buchanan, VP production and development, left the company a couple of weeks ago. Some of the support staff was also let go.

Those who are still working there include their financial people and also Jonathan Oakes, who is senior VP of production and development. Zambir, we understand, is being attached as a producer on a number of films.

Bold Films was founded in 2004 by Michel Litvak and Gary Michael Walters. It has financed and produced Academy Award-nominated films, including Dan Gilroy’s Nightcrawler, Damien Chazelle’s Whiplash which helped to launch both Chazelle’s and Miles Teller’s careers and cost $3.3M and grossed $48.98M worldwide, Nicholas Winding Refn’s Drive, and David Gordon Green’s Stronger for Lionsgate and Roadside Attractions. Stronger grossed only $5.8M. Another film, Shot Caller, only pulled in $2.8M in its short run at the box office.

Insiders tell Deadline that Bold is cutting back on expenses and overhead the number of films that they will produce each year.