Warner Brothers, the fabled Hollywood studios, plans to eliminate as many as 1,000 jobs, which would be more than 10 percent of its work force, industry journal Variety reported Wednesday. "There is no head count target or percentage reduction target," said Dee Dee Myers, Warner Brothers' executive vice president of corporate communications. Although the exact number of job cuts, expected to come in October or November, could be slightly lower, the cuts are still expected to be deep, the report said. "Since I became CEO, I've been working with the studio's senior management team to create a plan to position Warner Bros. for future growth," Warner chief Kevin Tsujihara told employees in a September 4 email. "This will require us to reduce costs and reallocate resources to our high-growth businesses," he said.
Read the Economic Times news report here.