Unexpected wave of layoffs at Warner Bros. starting Tuesday next week.
Not even Superman can stop this unfortunate news. Truth be told, it is not so unexpected. Thanks to an exclusive by Variety, and according to reports last month, the layoffs were going to occur one way or another. Approximately 1,000 jobs will be affected. It seems bad investments and production misfires from the past have come to bite the company’s present.
Severance packages for staff will likely include three weeks of pay for every year of service at the company. It is expected to tap out at two years of pay, according to an individual with knowledge of the plans. Sources stressed however that the packages will vary depending on an employee’s term of service.
Indeed, during the last decade, the company has had a number of hit and misses. On the television branch of the company, success has not been rare. We have The Flash, Arrow and Gotham currently, plus sitcoms like Big Bang Theory. However even if the company has nourished from the hit Batman Trilogy of Christopher Nolan and Man of Steel on 2013, the film division, mainly the Burbank studio’s film operation of the company has suffered unexpected losses this last 2 years.
Kevin Tsujihara, Warner Bros. CEO expressed last month that the company will now “focus on driving margins through reductions in overhead, marketing and production efficiencies, as well as the ongoing transition to digital.”
He also stated the layoffs are for a reason and part of the plan to reduce costs by $200,000 million annually. Let’s just hope the future cinematic universe based on the characters of DC Comics helps the film division, giving it a boost, avoiding layoffs in the near future.