Warner Bros Layoffs Long Planned But “Accelerated” By Failed Fox Bid

And they say everything happens for a reason…

Deadline

Looks like layoffs are coming to Warner Bros, but no definite date or definite number has been set yet. In a memo sent to staff today at 5:02 PM PT, CEO Kevin Tsujihara said: “We are doing our best to minimize staff reductions. However, and it pains me to say this, positions will be eliminated — at every level — across the Studio.” Sources tell Deadline that today’s announced pink slipping is part of a long-term growth strategy the studio has been planning for a while. However, the recent failed bid by Fox to take over WB certainly “accelerated the implementation of the plan,” an insider says. While Tsujihara offered no numbers today, it is expected that the cuts will take place globally among Warner Bros’ roughly 8,000 employees and likely will be implemented in the fourth quarter. Read the memo below:

Dear Colleagues:

Warner Bros. layoffs I wanted you to hear directly…

View original post 329 more words

Advertisements