Cineverse has confirmed layoffs affecting its workforce of about 300 employees, following the end of its fiscal first quarter on 30 June. The streaming and speciality film distributor said the reduction in force is intended to lower costs, though it did not disclose how many jobs were cut or which areas were affected.

The company expects the layoffs to save $1.8 million annually and has identified $4.8 million in additional savings and synergies, contributing towards a $13 million annualised target, mostly due by late September. Quarterly revenue nearly tripled to $30.6 million after acquisitions of Giant Worldwide and IndiCue, but its net loss widened to 28 cents per share; Cineverse shares nevertheless rose nearly 5% to $3 and were up more than 30% in 2026.