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Variety

Warner Bros. Set to Begin Layoffs Today

Nov 4, 2014  •  Post A Comment

Layoffs were expected to begin today, Tuesday, Nov. 4, 2014, at Warner Bros., Variety reports, citing sources with knowledge of the situation.

As we reported previously, the company was expected to cut about 1,000 jobs worldwide — more than 10% of the approximately 8,000 total positions.

“The cuts across the film and TV divisions are expected to take place in two waves, with roughly half beginning this week,” Variety reports. “The remaining layoffs will be finished by the end of the calendar year. Among those areas expected to be most impacted are real estate, home entertainment, information and technology and finance.”

Other Time Warner divisions are also making cuts. As we reported last month, Turner Broadcasting is expected to cut its work force by about 10%, while HBO is facing cuts of about 7%.

“At Time Warner’s investor day last month, Warner Bros. CEO Kevin Tsujihara alluded to the coming layoffs, saying the company would cut costs by $200 million annually and would ‘focus on driving margins through reductions in overhead, marketing and production efficiencies, as well as the ongoing transition to digital,'” Variety reports.

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One Comment

  1. It’s past time for companies that are profitable to stop considering employees as liabilities that will cut the over inflated compensation of their chief execs and make some Wall Street A-holes upset that profits are not satisfying their greed.

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