Universal Pictures Lays Off About 25 Employees
In response to the eroding home video market, Universal Pictures has laid off about 25 employees, or a little more than one percent of its workforce.
The bulk of the layoffs were in the studio’s home video division. Like the rest of Hollywood, Universal is dealing with an eroding DVD and home video market and the rising costs of movie production and distribution.
“Like any business, Universal Pictures is constantly adjusting our workforce to meet the demands of the marketplace and while we never like to lose people, slight restructuring in certain areas is needed to help us remain competitive,” a spokesperson tells The Hollywood Reporter.