“Time Warner’s Warner Bros. unit plans to offer buyouts to an unspecified number of workers as part of a drive to increase profit, according to two people with knowledge of the situation,” Lucas Shaw reports for Bloomberg.
The story reports: “The Burbank, California-based studio, led by Chairman and Chief Executive Officer Kevin Tsujihara, may fire staff if too few employees take the offer, said the people, who asked not to be identified because the matter is private. Cost cuts at the film, television and home-entertainment businesses will go beyond personnel, the people said, without being more specific.”
The report adds: “Warner Bros. operating profit rose 29 percent to $234 million in the second quarter on gains in home entertainment and TV. Revenue shrank 2.4 percent to $2.87 billion, reflecting weaker theatrical performance.”
A Warner Bros. spokesperson declined to comment to Shaw about his story.
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