Facing a revenue slowdown in 2006, Warner Bros. Entertainment on Wednesday cut 250 employees at its Burbank studio in an effort to deal with spiraling costs, Variety reported.
Nearly 150 more workers at the studio's international operations will receive their notice in the next few days. There are 4,550 employees who work at the studio's lot in Burbank, Variety said. The company, owned by Time Warner Inc., employs 8,000 worldwide.
Each of the studio's four divisions are being affected Warner Bros. Pictures, Warner Bros. Home Entertainment Group, Warner Bros. Television Group and Warner Bros. Consumer Products.
Anticipating a slowdown in growth next year, Warner has been aggressively reviewing staffing and expenditures, and all divisions are being asked to meet certain financial targets.
The layoffs weren't tied to Wednesday's Time Warner earnings, but rather has to do with other legal requirements, Variety reported.
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