Simon Cowell reportedly wants to focus on his family (Picture: Getty Images)
Simon Cowell is set to downsize his production company SyCo after 18 years.
The star, who recently proposed to his long-time partner Lauren Silverman, is said to want to focus more on his family life, especially after his bike accident in 2020.
Various staff are due to leave, with it being described as the ‘end of an era’.
A production source who works close to the mogul and his staff said: ‘The experience and launchpad Syco gives its employees is completely unique and working alongside Simon is a huge opportunity – he has given so many careers and opportunities to so many people, both off screen and on screen.
‘It’s not just the UK but with shows they make all over the world he indirectly opens the door for so many people.
‘I know Simon is an incredible mentor and working with him has taken so many people to the very top of the entertainment business all over the world. And from what I’ve heard seems that everyone who has worked with him is just incredibly grateful for those opportunities and experiences and they understand the direction he wants to take things.
‘Simon’s a very inspiring and loyal company leader and most of his staff have been with him for many years, yes, he expects people to work hard but those people leaving there will be the very best in the business. Those that are leaving will be snapped up fast or probably likely to launch their own businesses as Simon always encourages them to be entrepreneurial, they are all creative and have masses of experience under their belts.’
He recently proposed to Lauren (Picture: FilmMagic)
A source told The Sun: ‘Simon has reached a time in his life when he doesn’t want the stress of running a global empire and so has made the difficult decision to wind down Syco.
‘Obviously everyone involved, including Simon, is very sad. It really is the end of an era. Simon made this decision with a heavy heart but after much deliberation he had to do what is best for him and his family.
‘Running his business internationally – especially during the pandemic and since his bike accident – has become exhausting and understandably Simon now wants to focus on other things, and particularly his family.’
SyCo launched careers for stars including One Direction (Picture: WireImage)
SyCo began as a record label in 2005, and later produced the Got Talent and X Factor franchises.
Simon, 62, and SyCo launched the careers of stars including including Leona Lewis, One Direction, and Susan Boyle.
The mogul has been open about how his son Eric, seven, has changed his viewpoint on life, with the star making sure he and Lauren’s older son Adam were present for his recent proposal.
Despite previously insisting he would never get married, Simon stunned fans and friends when he popped the question to Lauren after 13 years.
A source told The Sun: ‘Lauren was absolutely stunned and never in a million years expected Simon to pop the question. She burst into tears – happy tears – and obviously said “yes” straight away.
More: Simon Cowell
Simon Cowell speaks out for first time since Lauren Silverman engagement to confirm news
Simon Cowell and Lauren Silverman seen for first time since engagement
Amanda Holden reacts to pal Simon Cowell’s engagement: ‘I’m shocked!’
‘It was important to Simon that the kids were there too, as he adores them both and the family they’ve become.’
They added: ‘Whilst Simon never thought he was the marrying type, he’s realised he’s met the woman of his dreams – and couldn’t be happier. In the words of Beyoncé, it was time to put a ring on it.’
Metro.co.uk has contacted reps for Simon Cowell for comment.
Got a story?
If you’ve got a celebrity story, video or pictures get in touch with the Metro.co.uk entertainment team by emailing us email@example.com, calling 020 3615 2145 or by visiting our Submit Stuff page – we’d love to hear from you.
MORE : Simon Cowell speaks out for first time since Lauren Silverman engagement to confirm the happy news
MORE : Simon Cowell and Lauren Silverman seen for first time since engagement as they enjoy chilled date with ice cream and coffee