Warner Losses Forces US Job Cuts

The global recession is even affecting the 'big hitters' with news just revealed that Warner Bros Entertainment movie studio is about to trim back by eliminating nearly 800 jobs.
Although the move already represents a cut of 10% in its global workforce, the huge corporation - part of Time Warner Inc - is said to be examining further cost reductions.
The cuts come after the studio posted a 9% drop in third-quarter revenue to $2.88 billion, despite the success of the summer blockbuster, 'The Dark Knight'.
The move is also on foot of parent Time Warner posting a loss for the full year due to a $25 billion write-down of its assets in cable, magazines and Internet, caused in part by the advertising slowdown.
It is believed that most of the jobs will come out of the studio's headquarters in Burbank, California, through a mix of layoffs, the elimination of open positions and outsourcing.
About 300 jobs in information technology and accounting are then being outsourced with some of the jobs even moving to India and Poland.
However, while about 100 of those back office positions will be offered to current employees who will continue to be based in Burbank, some 300 other people will be laid off and 200 open positions will not be filled.
(BMcC/JM)