Warner to cut 800 positions, 10% off its Global Staff

[jw]

Link

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.

[P@t_Mtl]

These move are usualy done in order to preserve the big salary. The clerks at the end of the ladder get cut so that the directors on top can keep their salary even when times are bad, this as been going on since the dawn of time and won't be stopping anytime soon. Such is life.

[FinalEvangelion]

That's too bad. This recession seems to be hitting everyone now.

[Sussudio]

man that sucks....

[naturephoto1]

Originally Posted by P@t_Mtl

These move are usualy done in order to preserve the big salary. The clerks at the end of the ladder get cut so that the directors on top can keep their salary even when times are bad, this as been going on since the dawn of time and won't be stopping anytime soon. Such is life.

That is much the way things were done when I worked as an Environmental Consultant for 8 years as well (1988-1995). Those of us that were billable were often the first to go to save the higher salaries. The problem with that was that they were cutting their legs out from under themselves because they eliminated the people that billed to pay the big salaries.

I am so sorry to hear about still more people losing their jobs in this economy.

Rich

[SeanMF]

You thought WB's customer service/shipping departments were bad now......

[Tempest]

They should make a law that anytime there are big cuts, all executives have to take a 20% cut in pay or something as well.

[MotionBlurr]

Originally Posted by Tempest

They should make a law that anytime there are big cuts, all executives have to take a 20% cut in pay or something as well.

I can never understand what a person who already has millions of dollars in his/her bank account will do with another million. Why not just cut your salary or bonus a bit and keep your workers?

[Blubaru]

Originally Posted by MotionBlurr

I can never understand what a person who already has millions of dollars in his/her bank account will do with another million. Why not just cut your salary or bonus a bit and keep your workers?

Maybe because you had to work your ass off all your life to get those millions and wish to continue doing so.

The corporate rat race has never been fair. It's just the way things are.

[OkoPeeKee]

Originally Posted by naturephoto1

Those of us that were billable were often the first to go to save the higher salaries. The problem with that was that they were cutting their legs out from under themselves because they eliminated the people that billed to pay the big salaries.

I am so sorry to hear about still more people losing their jobs in this economy.

Rich

Greed. Large salaried executives never seem to be satisfied.

[MotionBlurr]

So far that only company that did something right was FEDEX. They cut salaries of the execs and senior managers by 5-20% and gave up their bonuses (or portion of it) instead of laying off workers. They also stopped matching 401k contributions for all workers. I'll take that instead of losing my job.

[Blu Titan]

Warner is a huge company and there is always duplication of efforst in some aspect of large corporations. Sad to see people get laid off.

[masob98]

Originally Posted by Blubaru

Maybe because you had to work your ass off all your life to get those millions and wish to continue doing so.

The corporate rat race has never been fair. It's just the way things are.

yeah these people work their butts off, but its called sacrifice. And all those people that are losing their jobs and possibly everything they own, have worked their butts off to provide for their families and get where they are as well.

[Anthony P]

I can never understand what a person who already has millions of dollars in his/her bank account will do with another million. Why not just cut your salary or bonus a bit and keep your workers?

because they probably spend a lot a swell. Man can always live with less but always wants more. If you make lots of money you probably buy a bigger more luxurious home so you pay more in property tax, pay more to maintain it....

[coolmilo]

CEO's need to start taking serious pay cuts to stop the bleeding of the corporate workforce. But I guess that will never happen.

[steve1971]

And to think everyone thought Sony was the only corprate giant cutting positions within the company. Its a tough economy out there and its hitting all the big boys.

[nycomet]

Originally Posted by steve1971

And to think everyone thought Sony was the only corprate giant cutting positions within the company. Its a tough economy out there and its hitting all the big boys.

The big boys, eh? I think it's the little boys (the general public) who are feeling the full impact of the economic crisis more than anyone else.

[fdm]

Originally Posted by Anthony P

because they probably spend a lot a swell. Man can always live with less but always wants more. If you make lots of money you probably buy a bigger more luxurious home so you pay more in property tax, pay more to maintain it....

Actually, they tend to just sit on it. That's why trickle-down economics has (yet again) been such a miserable failure.

[Anthony P]

agree, trickle down economy does not work. But to think that someone making 25k and 250k spend the same is not very reasonable either. BTW the reason trickle down does not work is because if the guy making 250k gets 10k more, not much of it will reach the guy making 25k, he won't eat a lot more at Mcdonnald, he won't buy more at walmart (and if he does it will be the managers that get the benefit and not the person that works at the cash.

[Movie-Grrl]

Originally Posted by MotionBlurr

So far that only company that did something right was FEDEX. They cut salaries of the execs and senior managers by 5-20% and gave up their bonuses (or portion of it) instead of laying off workers. They also stopped matching 401k contributions for all workers. I'll take that instead of losing my job.

Well they must have also laid off a lot of little people, because now they can't seem to get anything anywhere on time. I speak from personal experience.