Warner Bros. Entertainment is gearing up for a hefty layoff as the studio seeks to cut costs. Variety reports that the company will cut as many as 1,000 jobs, with the Home Entertainment unit to be hit hardest.
That would represent more than 10% of the studio’s 9,000-person workforce, the story notes. The cuts are expected to be made in late October or early November. The studio had been widely expected to cut jobs, after Warner CEO Kevin Tsujihara warned in a Sept. 4 memo that layoffs were coming.
“Senior managers are currently assessing their businesses to come up with ways to trim overhead. Only at the end of that process will an exact reduction figure be known. It could be somewhat lower than the current numbers being speculated, but cuts are expected to be substantial,” the story notes.
Movie and TV production units will be the least impacted by the cuts, the story reports.
“There is no head count target or percentage reduction target,” said the studio’s executive vice president of corporate communications, Dee Dee Myers. “This is a budget issue, not a head count issue.”