Warner's Home Entertainment Division Hit with Massive Lay-Off's

[Gold Ranger]

As if Warner's Home Entertainment Division wasn't already in a terrible state of affairs...

Warner Bros. is expected to begin layoffs today that will result in the elimination of about 1,000 jobs globally as part of company-wide streamlining effort.
Variety reports that the cuts, which amount to more than 10 percent of the studio’s 8,000-person workforce, are anticipated in two waves, with roughly half starting this week. The process will be completed by the end of the year.
CEO Kevin Tsujihara announced last month that the studio aims to reduce costs by $200 million annually, which will be used to fund an ambitious film and television slate that includes at least 10 DC Comics-based films, J.K. Rowling’s Fantastic Beasts and Where to Find Them series, and more LEGO offerings. Film and television production divisions are expected to be spared the brunt of the cutbacks, while home entertainment, marketing, distribution, administration and “other non-production related divisions” will be among the hardest hit.

As we’ve noted before, the popular belief is that DC could be spared layoffs by simply not filling some of the positions left vacant when it completes the move from New York City to Burbank, California, in the spring.
Fellow Time Warner division Turner Broadcasting, which includes CNN, Cartoon Network, Adult Swim and TNT, will eliminate about 1,475 jobs — again, equal to about 10 percent of its workforce. It was revealed just last week that HBO will lay off about 150 people, nearly 7 percent of its workforce. Time Warner is expected to slash about 2,600 jobs in all.
The belt-tightening is part of a long-term growth strategy devised more than a year ago but apparently accelerated by Rupert Murdoch’s rejected $80 billion bid in August for Time Warner.


http://robot6.comicbookresources.com...o-begin-today/

I also feel bad about all those people losing their jobs, and right around the most depressing time of the year...

[Show spoiler]Suicides happen more during the Winter/Holidays than any other time of the year.

I hope everyone gets a severence package and is able to find work right away.

Also, if they really wanted to fix the company, pay the Higher Executives way less... but noooo....

[MifuneFan]

Hope it comes with a UV copy

[flyry]

Originally Posted by MifuneFan

Hope it comes with a UV copy

so wrong

[DisneyBlu]

Terrible. Especially since it's right before the holidays.

[schlock]

At least we'll get more DC superhero movies. Just total greed, that's all this is. And another huge blow to the homevideo industry. Sorry to all those employees, and it's definitley not going to be easy for most of them to find similar jobs available at other studios. So it looks like unemployment benefits for many of them during the holidays.

And I wonder what impact this will have on Warner Archives. I hope Archives survives all of this nonsense.

[rewak]

Maybe they wouldn't have to lay off staff to find money if they should stop re-releasing a big chunk of their catalog every other year with no upgrades.

[MifuneFan]

Originally Posted by rewak

Maybe they wouldn't have to lay off staff to find money if they should stop re-releasing a big chunk of their catalog every other year with no upgrades.

This has nothing to do with that. They also likely make more money off many of those re-releases than they would a new catalog title. Goen with the Wind alone rakes in the money for them.

[rewak]

You should read some of the threads regarding their latest batch of re-releases under the Anniversary line.

[Aclea]

Originally Posted by KaineKinetic

As if Warner's Home Entertainment Division wasn't already in a terrible state of affairs...


I also feel bad about all those people losing their jobs, and right around the most depressing time of the year...

[Show spoiler]Suicides happen more during the Winter/Holidays than any other time of the year.

I hope everyone gets a severence package and is able to find work right away.

Also, if they really wanted to fix the company, pay the Higher Executives way less... but noooo....

This is more about making the balance sheet look better for the next time Murdoch tries a takeover bid than funding movies. If Murdoch took over, there'd be around 45% initial layoffs and a scaling back of film production before a slow United Artists-style draining of power and financing as key corporate assets like superman and Batman were transferred to Fox just as James Bond, Rocky and the Pink Panther were transferred to MGM. This is basically sending a message to shareholders that the value of the stock can rise with across the board savings and are worth holding on to rather than selling for a one-off profit. And a number of highly paid execs will lose their jobs as well to show the investors they're serious while others can expect a wage freeze.

http://sfvbj.com/news/2014/sep/05/bu...m-warner-bros/

I doubt we'd be seeing cuts this deep outside home video (which would always have had more job losses, if not as many as the current axe of more than 10% of staff) if the Murdoch threat weren't hovering over the company.

[wonkavision]

Originally Posted by KaineKinetic

Suicides happen more during the Winter/Holidays than any other time of the year.

That's not true and a popular misconception. In fact, researchers found that depression rates and suicides actually drop during the winter months and peak in the spring.