AGBO Sheds Staff By 15% In Realignment

EXCLUSIVE: We understand that AGBO, the Russo Brothers‘ independent studio, have pinkslipped around 20 staffers or 15% of its 130-plus employee count. Most of the cuts were across middle management and we understand that a realignment is underway to reorganize the company for the long term.

The move comes as the brothers are working on Avengers: Doomsday. AGBO is a producer on that Marvel film, which is being released on Dec. 18.

Last March, ABGO expanded its creative team, appointing Cory Lanier to the role of Senior Vice President of Television, naming Veronica Hidalgo Vice President of Film and John Swartz Vice President of IP Production.

AGBO has been behind myriad modern-day action titles grossing north of $7 billion at the global bx office including Marvel’s Avengers: Infinity War and Endgame and the yet-to-come Secret Wars, which Joe and Anthony Russo will begin shooting later this year. The company’s work for Netflix includes The Gray Man, one of the streamer’s Top 10 most-watched films of all time, and Extraction, one of its top franchises of all time. AGBO is currently in production with Netflix on Tygo and Mercenary, both part of the Extraction universe. The studio is in post-production on The Whisper Man, starring Robert De Niro. There’s also the future-set spy thriller The Citadel at Amazon, Season 2 of which is expected in May of this year. The Bluff, also at Amazon, debuts on Prime Video February 25.

AGBO was also a producer on the multi Oscar winning Everything Everywhere All at Once from the Daniels.

In November, AGBO announced it will be producing John Rambo, the sixth installment in the Rambo franchise and a prequel, in partnership with Lionsgate and Millennium Media.

Dominic Patten contributed to this report.