The movie was written and directed by James L. Brooks.
The events depicted in the movie closely parallel the 1984 mass layoffs ("downsizing") that occurred at CBS News. Longtime CBS Evening News producer Susan Zirinsky was a technical advisor on the film.
It was nominated for Academy Awards for Best Actor in a Leading Role (William Hurt), Best Actor in a Supporting Role (Albert Brooks), Best Actress in a Leading Role (Holly Hunter), Best Cinematography, Best Film Editing, Best Picture and Best Writing, Screenplay Written Directly for the Screen.