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Warner Bros. Entertainment could eliminate as many as 1,000 jobs — more than 10 percent of its worldwide workforce — as part of studio-wide cutbacks confirmed earlier this month, Variety reports. However, the studio insists that although the cuts will be “substantial,” it hasn’t settled on the exact number of layoffs.
“The plans are still in process,” Dee Dee Myers, Warner Bros.’ new executive vice president of corporate communications, told TheWrap. “We’re reducing costs and it will result in reduced overhead, but the plans are not done.”
Warner Bros. Entertainment CEO Kevin Tsujihara confirmed impending layoffs across the studio in a memo sent Thursday afternoon to employees. Although no date or numbers were given, Deadline suggests the cuts will likely take place in the fourth quarter.
“We are doing our best to minimize staff reductions,” wrote Tsujihara, who was named CEO in January 2013. “However, and it pains me to say this, positions will be eliminated — at every level — across the Studio.”
Warner Bros.’ subsidiaries include DC Entertainment, Warner Bros. Pictures, Warner Bros. Interactive Entertainment, Warner Bros. Television, Warner Home Video and New Line Cinema. It also co-owns The CW with CBS Corporation.
Although reports earlier this week indicated the studio would offer buyouts before it resorted to layoffs, there’s no mention of that approach in the memo. In fact, it would seem buyouts are off the table, as Tsujihara’s introduction makes it clear he wanted”to set the record straight” following “misinformation in the press.”
As part of its “Human to Hero” series, CNN profiles celebrated artist Takehiko Inoue, creator of the hit manga series Vagabond, Slam Dunk and Real. “If you can have vivid characters, they will make the story themselves. By putting them in certain situations or having one meet another, they naturally make stories by reacting to each other,” he says. “It sounds like a very easy thing. I wish it was.”
Watch the video segment below.