Warner Bros. had a rough summer at the box office, and a good chunk of its employees are going to pay the price. The studio’s CEO, Kevin Tsujihara, has reportedly issued a memo to employees notifying them that staffing cuts are taking place.
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It appears that Warner will be axing about 900 employees, which is about ten percent of its global workforce.
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From the Tsujihara memo:
“Most business groups will be announcing staff changes this week, beginning today. However, some groups, including finance, MIS and technical operations, have been engaged in more-complex reorganizations; they will make some staff changes now, with most coming in the first quarter of next year. Similarly, international territories will proceed according to local policies and protocol, and most of their changes will be announced in the early part of next year,”
The summer was difficult for more than just Warner–are we about to see a trend of studio layoffs?
[via Home Media Magazine]
I think about 95% of the new movies are total trash.
And the other 5%….
About 3% of the are ok…
And 2% are really good.
But then that is just me.
But I think the studios are starting to see the message that the public is sending.
And are thinking more & more are thinking as I am…?
This is much adieu about nothing. WB turns over about 15% of its employees each year.
This was nothing more than a ‘knee-jerk’ to try and boost stock price based on the crummy summer movie performance from Warners.