Time Warner Inc.’s Warner Bros. Entertainment movie studio said Tuesday it is eliminating nearly 800 jobs, or 10 percent of its global work force, and is examining further cost reductions.
The cuts come after the studio posted a 9 percent drop in third-quarter revenue to $2.88 billion, despite the success of the summer blockbuster, “The Dark Knight.” Earlier this month, parent Time Warner said it will post 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.
“Despite the fact that the company performed solidly in 2008, this decision reflects changes necessary for stability and growth going forward,” the studio’s top executives, Chief Executive Barry Meyer and President Alan Horn, told employees in an e-mail Tuesday morning.
“Shifting consumer demand and the overall state of the economy have affected companies around the world, and Warner Bros. is not immune,” they said.
Most of the jobs will come out of the studio’s headquarters in Burbank, Calif., through a mix of layoffs, the elimination of open positions and outsourcing, said spokesman Scott Rowe.
About 300 jobs in information technology and accounting are being outsourced through French company Capgemini and some of the jobs will move to India and Poland. 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.
Warner Bros. said the subsequent cost savings will be substantial but didn’t elaborate. But executives suggested further cuts might be in the offing, noting “We will also continue to review our global operations to make sure we’re operating as efficiently and effectively as possible.”
No decision has been made about the studio’s international operations.
SUPERLATIVE Signs Director Claudia Abend For Spots and Branded Content
Latin American director/editor and documentary filmmaker Claudia Abend has joined SUPERLATIVE for her first U.S. representation spanning commercials and branded content.
Abend's empathetic docu-style POV has garnered several international awards for the documentary films Hit (2008) and The Flower of Life (2018). Her spotmaking credits include such brands as Procter & Gamble, Nestle and Blue Cross/Blue Shield. SUPERLATIVE has already worked with Abend, together producing a new ad campaign for digital agency Tinuiti and The Honest Company, a consumer goods corporation featuring eco-minded products.
“We found Claudia through her poignant documentaries on the festival circuit,” said SUPERLATIVE creative manager Stefan Dezil. “We are excited about her textured narratives, emotional storytelling, and her powerhouse long-form storytelling abilities, currently on her third feature film. As SUPERLATIVE continues to build our brand after premiering our latest films at Sundance and SXSW, Claudia is the kind of multidimensional artist we are excited to partner with on branded content and beyond. Fluent in English and Spanish, her reel shows real prowess with infants, food and skin products, families both young and old. Great visual storytelling and inspirational doc work.”
Abend began her career in her native Uruguay, studying film and editing in college. “My dad would show me films like Citizen Kane,” she said. “I love cinema and became an editor. It was here that I learned all about communicating human emotion.”
From the get-go, Abend hit it big as a documentary director, teaming with Adrianna Loeff on Hit, a movie chronicling pop artists of Uruguayan music. Abend took home a Best Editing... Read More