Warner to Cut 800 Positions20 Jan, 2009 By: Erik Gruenwedel
The Dark Knight apparently is no match against recession.
Warner Bros. Jan. 20 said it will cut 800 positions, or 10% of its global staff, across its entertainment divisions in the coming weeks as a result of the ongoing economic downturn.
“We are very sad to announce that based on the global economic situation and current business forecasts, the studio will have to make staff reductions in the coming weeks in order to control costs,” Barry Meyer, chairman and chief executive, and Alan Horn, president of the studio, wrote in an e-mail to employees.
The cuts, which are occurring across all Hollywood studios, appear to focus on positions earmarked for outsourcing, including management information systems, finance and accounting, among other divisions.
The layoffs, which are being made at every level across both corporate and divisional businesses, would likely affect home entertainment as well.
Warner Home Video has not formally announced any staff reductions.
“It is safe to say that they will affect every division of the studio, including home entertainment,” said Warner spokesperson Scott Rowe.
Time Warner Inc., parent of Warner Bros., last year shuttered New Line Cinema in a cost-cutting move.