MUMBAI: Warner Bros. Entertainment has fired 250 to 300 employees
at its Burbank studio in california in an effort to cut costs.
Media reports indicate that at least 100 additional people will
lose their jobs in the studio's international operations. Warner
says that the difficult measures are being taken to position the
company for the future. The company says that it has examined every
aspect of its business in order to cut costs responsibly and to
keep staff reductions to a minimum.
Warner's job cuts come as Hollywood is being forced to deal with
incrweasing production costs while the once-hot DVD market cools
off, box office revenue is down by eight per cent and TV syndication
is drying up. AOL meanwhile will cut 700 jobs.
