Miramax "to cut" 35 percent of staff (160 jobs)

http://www.reuters.co.uk/newsPackageArticle.jhtml?type=entertainmentNews&storyID=561560§ion=news

NEW YORK (Reuters) - Film studio Miramax, which has clashed recently with parent Walt Disney, plans this week to lay off about 35 percent of its workforce to cut costs and improve efficiency, the New York Post says, citing an unidentified source familiar with the situation.

The cuts would affect about 160 of Miramax's 450 employees in all areas of the company, mostly mid- level and lower-level employees, the newspaper said on Monday. Earlier this year, Miramax was considering 90 layoffs, published reports said.

An unidentified source told the newspaper: "The studio realized that it was significantly overstaffed relative to the decreased number of projects it has been working on."

Calls to Disney and Miramax were not immediately returned. A Miramax spokesman told the newspaper the company doesn't comment on speculation.

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Maybe you SHOULD have distributed that film that brought in over $100,000,000 - eh?

Funny, seems the Booming Economy Express has already left the station. Maybe more tax cuts will get it back here...