Warner Bros. to Eliminate Jobs at Film and TV StudioLucas Shaw
Time Warner Inc.’s Warner Bros. unit will eliminate an unspecified number of workers as part of a drive to position the film and television studio for future growth.
The Burbank, California-based studio will reduce jobs at all levels across the business, Chairman and Chief Executive Officer Kevin Tsujihara, said today in a memo to staff.
“We are doing our best to minimize staff reductions,” Tsujihara said. “However, and it pains me to say this, positions will be eliminated -— at every level —- across the studio.”
Time Warner CEO Jeff Bewkes is pushing division heads to operate more efficiently after rejecting Rupert Murdoch’s $75 billion takeover bid and promising investors his standalone growth plan will create more value. In his memo, Tsujihara said he has been working on a plan to make the studio more efficient since taking over as head of the unit in March 2013.
Dee Dee Myers, a spokeswoman for Warner Bros., declined to specify the number of jobs being eliminated.
Bloomberg News reported on Sept. 2 that Warner Bros. planned to offer buyouts to some workers, and possibly fire staff. Cost cuts at the film, television and home-entertainment businesses will go beyond personnel, people familiar with the situation said then, without being more specific.
“In making these decisions, we will follow all applicable protocols,” Tsujihara said. “Your divisional and departmental leadership will share more information with you about these changes in the months ahead.”
John Martin, CEO of the Turner division that includes CNN and TBS, has offered buyouts to about 6 percent of its U.S. employees.
Tsujihara, previously head of Warner Bros.’ home entertainment unit, took over as CEO of the entire studio in March 2013 after a three-way competition with then-film chief Jeff Robinov and former TV head Bruce Rosenblum.
The company employs 7,400 in Burbank, according to the city’s Chamber of Commerce, and others across the globe.