Warner Bros. Layoffs Beginning Tuesday to Eliminate Roughly 1,000 Jobs
The studio aims for $200 million in annual savings
Warner Bros. is beginning a wide-ranging round of layoffs Tuesday that will eliminate about 1,000 jobs worldwide, The Hollywood Reporter has confirmed.
While the first cuts, which will affect more than 10 percent of the studio’s 8,000 workforce, are to begin this week, the entire process is expected to continue through the end of the year, and, in the case of some of the studio’s international offices, into 2015.
While the studio’s film and television production will be spared the brunt of the cuts, areas that will be more heavily hit include home entertainment real estate, information and technology and finance.
Warner Bros. CEO Kevin Tsujihara is aiming to cut $200 million from the studio’s annual budget, telling investors last month that he is looking to create a “leaner” organization while also cutting back on costs like marketing.
The cuts come as other units at Time Warner also are shedding employees: HBO is in the process of laying off more than 150 employees, 7 percent of its workforce. Another 170 positions are being eliminated at Turner Broadcasting's CNN.