LOS ANGELES, Jan. 20 (UPI) -- Warner Bros. Entertainment is slashing about 10 percent of its global workforce in an effort to save more than $50 million a year, Variety.com said.
As part of the plan, the U.S. film and television studio reportedly is laying off 600 people across all divisions of the company and will not fill 200 positions that are currently open.
"The changing entertainment landscape, shifting consumer demand and the overall state of the economy have affected companies around the world, and Warner Bros. is not immune to these factors," Variety.com quoted Warner Bros. Chairman Barry Meyer and President Alan Horn as saying in a memo to employees.
Clear Channel Communications Tuesday announced it was cutting 1,850 jobs or 9 percent of its employees, as well, while the Walt Disney Co. is also expected to significantly downsize its ABC television division, the entertainment industry trade newspaper said.
