As Bob Weinstein attempted to calm employees fears about the company’s financial health, Deadline hears that the uncertainty of future employment has people at The Weinstein Co. looking for the exits. The same happened at Relativity when they were on the brink of bankruptcy.
Weinstein wrote his employees today:
I wanted to keep everyone updated in what is obviously a fluid situation. The board is still in discussions with potential buyers who want to keep the company and employees as a going concern. That has been one of our main goals and we are still pursuing it. Payroll obligations will continued to be met.I understand this is a stressful time for everyone and your patience and support during this time is very much appreciated by me and the board. Until there is something more specific to address you with, the need for a video town hall would lead to more questions than answers. I will continue to update you and when the time is proper to announce something more specific, then we will have the town hall meeting.Best regards,Bob Weinstein
The note to his staffers came after a group of investors led by Ron Burkle and Maria Contreras-Sweet went south earlier this week and other possible bidders are circling as a Chapter 11 seems imminent at this point. In the case with Relativity and other bankruptcy’s that have hit companies, usually a company works to meet payroll and that is followed by layoffs as others swoop in to cherry-pick assets.