That's All Folks: Warner Bros. Slashes 800 Jobs
Time Warner Inc.'s Warner Bros. Entertainment movie studio says it is eliminating nearly 800 jobs.
LOS ANGELES -- Time Warner Inc.'s Warner Bros. Entertainment movie studio says it is eliminating nearly 800 jobs, or 10 percent of its global work force.
Most of the jobs will come out of the studio's headquarters in Burbank, Calif., in a mix of layoffs, the elimination of open positions and outsourcing.
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.
Warner Bros. says the cost savings will be substantial but did not provide details.
As Warner's iconic Daffy Duck might say, "That's despicable."
Copyright Associated Press