"In light of new information about misconduct by Harvey Weinstein that has emerged in the past few days, the directors of The Weinstein Company - Robert Weinstein, Lance Maerov, Richard Koenigsberg and Tarak Ben Ammar - have determined, and have informed Harvey Weinstein, that his employment with The Weinstein Company is terminated, effective immediately," the company's board said in a statement quoted by US media.
The firing came after the New York Times published a bombshell report earlier this week that alleged Weinstein, whose company produced such hits as 'The King's Speech' and 'Django Unchained', preyed on young women hoping to break into the film industry.
The accusers say Weinstein pressured them to massage him, watch him naked and promised to help advance their careers in exchange for sexual favors.
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In a statement, Weinstein - a staunch Democratic campaign fundraiser who backed Hillary Clinton in her presidential bid - said he respected all women and was hoping for a second chance while acknowledging he had "work to do to earn it".
A father-of-two who is married to English fashion designer Georgina Chapman, Weinstein is considered a powerhouse in Hollywood and many of his movies have picked up Oscars over the years, including "Good Will Hunting" and "The Artist".
He formed the Miramax production house in the late 1970s with his brother and then sold it to Disney.
