Jack77
02-02-2010, 07:47 PM
It doesn't look good today for fans still waiting for The Nanny to be completed on DVD.
Sony Pictures to lay-off 450 employees: Report
2 Feb 2010, 1459 hrs IST, PTI
NEW YORK: Sony Pictures Entertainment, a division of Sony Corp, is planning to lay-off about 450 employees, or about 6.5 per cent of its current
work force, in the next few weeks, says a media report.
Attributing to a memo by Sony Pictures co-chairmen Michael Lynton and Amy Pascal, The Wall Street Journal said, the company is planning to lay-off about 450 employees in the next few weeks.
The report said that the majority of the layoffs are expected to hit the studio's home-entertainment and formation-technology departments, but nearly all divisions are expected to feel an impact to some extent, which includes motion pictures, television production and corporate.
"Most of the layoffs are expected to fall in the US and take place by the first week in March," it added.
After the current round of job cut, studio's head count would stand at about 6,300. In addition, the studio would not fill about 100 jobs that are currently open.
The company's business has been hit by digital piracy and the impact of social-media services that have sometimes
undermined studios' marketing efforts.
DVD sales in the US has seen declined 13 per cent to $8.73 billion against last year, putting a major dent in the
studios' bottom-line, the report said attributing to Adams Media Research.
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This really sucks! And with today's breaking news, I'm afraid now that we may never see the remaining seasons of The Nanny & other Sony owned shows released on DVD.
This explains the sloppy production care on the recent seasons that were released and the cheap packaging!
Just another reminder that we are really living in a bad time!:confused:
Sony Pictures to lay-off 450 employees: Report
2 Feb 2010, 1459 hrs IST, PTI
NEW YORK: Sony Pictures Entertainment, a division of Sony Corp, is planning to lay-off about 450 employees, or about 6.5 per cent of its current
work force, in the next few weeks, says a media report.
Attributing to a memo by Sony Pictures co-chairmen Michael Lynton and Amy Pascal, The Wall Street Journal said, the company is planning to lay-off about 450 employees in the next few weeks.
The report said that the majority of the layoffs are expected to hit the studio's home-entertainment and formation-technology departments, but nearly all divisions are expected to feel an impact to some extent, which includes motion pictures, television production and corporate.
"Most of the layoffs are expected to fall in the US and take place by the first week in March," it added.
After the current round of job cut, studio's head count would stand at about 6,300. In addition, the studio would not fill about 100 jobs that are currently open.
The company's business has been hit by digital piracy and the impact of social-media services that have sometimes
undermined studios' marketing efforts.
DVD sales in the US has seen declined 13 per cent to $8.73 billion against last year, putting a major dent in the
studios' bottom-line, the report said attributing to Adams Media Research.
Share
This really sucks! And with today's breaking news, I'm afraid now that we may never see the remaining seasons of The Nanny & other Sony owned shows released on DVD.
This explains the sloppy production care on the recent seasons that were released and the cheap packaging!
Just another reminder that we are really living in a bad time!:confused: