October 06, 2017 03:19 PM

 

Harvey Weinstein will likely soon be suspended from his work at powerhouse film studio Weinstein Company after being accused of decades of sexual misconduct in a New York Times report.

A source close to the situation tells PEOPLE that the company’s board met yesterday after the news broke. The company is expected to announce soon that Weinstein is being suspended from his position as co-chairman while the company conducts an internal investigation. The 65-year-old mogul started the company in 2005 with his younger brother Bob, 62.

At the company, “nobody wants him there,” says the source. 

The source also says that because of his contract, Weinstein cannot simply be fired. The investigation is one of the legal steps in the process of removing him. Weinstein won’t be able to work while the investigation is ongoing, the source says.

Since the meeting, board member Dirk Ziff has resigned in wake of the allegations, according to TheWrap. The outlet reports that Ziff did not take part in the discussion Thursday.

The company is now in deep talks about its slate of upcoming projects.

In a report by The New York Times Thursday, eight women, including actress Ashley Judd, came forward to accuse Weinstein of sexual misconduct. Following the allegations, the movie mogul announced plans to take a “leave of absence” in a statement to the NYT.

“I appreciate the way I’ve behaved with colleagues in the past has caused a lot of pain, and I sincerely apologize for it. Though I’m trying to do better, I know I have a long way to go,” he said, adding that he was working with therapists and planned to take time off to “deal with this issue head-on.”

Weinstein’s attorney, Lisa Bloom, said in a statement that “he denies many of the accusations as patently false.” Another attorney for Weinstein, Charles Harder, said the mogul is preparing a lawsuit against the NYT for “false and defamatory” statements.

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