The process of terminating Weinstein's membership was initiated by the PGA's board of directors two weeks ago.
The guild's constitution had given the Hollywood mogul an opportunity to respond to the charges against him, but he chose to "resign" from his membership.
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Calling it an "unprecedented step", the guild said that it was "a reflection of the serious with which the Guild regards the numerous reports of Weinstein's decades of reprehensible conduct."
"Sexual harassment can no longer be tolerated in our industry or within the ranks of Producers Guild membership," the guild said.
The PGA also said that its Officers and National Board of Directors have created the Anti-Sexual Harassment Task Force which will research and propose substantive and effective solutions to combat "sexual harassment in the entertainment industry".
The development comes close on the heals of Academy of Motion Picture Arts and Sciences removing the producer with immediate effect after the investigations by The New York Times and The New Yorker revealed sexual harassment and rape allegations against Weinstein.
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