Buyouts and Layoffs Loom at Warner Bros.

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Warner Bros. Entertainment is looking to cut an unspecified number of staff by offering buyouts, according to media reports on Wednesday.

The Burbank studio could lay off employees in its feature film, television and home entertainment divisions if not enough take the buyouts, Bloomberg News reported.

Pressure to cut costs is coming from Jeff Bewkes, chief executive of Time Warner Inc., parent of Warner Bros., who has promised investors that growth plans will create more value for the media and entertainment company, according to Bloomberg.

In July, Time Warner rejected an unsolicited $80 billion acquisition bid by media mogul Rupert Murdoch, an offer that Murdoch formally withdrew in early August. Time Warner share prices had increased after the takeover bid became public but then dropped more than 10 percent after Murdoch withdrew the offer.

Warner Bros. would not comment on the buyouts or potential layoffs, according to Bloomberg and Hollywood Reporter.

Turner Broadcasting System, the Time Warner division that includes CNN and TBS, previously announced it would offer buyouts to about 6 percent of its U.S. workforce.

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