Displaying items by tag: pandemic recession
Well, the new week is here. And unfortunately, in the wake of our post on Friday about Walt Disney Home Entertainment’s catalog 4K plans (or lack thereof), the news today isn’t good either...
Per Deadline this morning, WarnerMedia has begun a round of layoffs and restructuring meant to help the company survive the pandemic and its resulting economic downturn. Jeffrey R. Schlesinger (President, Warner Bros. Worldwide Television Distribution), Ron Sanders (President, Worldwide Theatrical Distribution & Home Entertainment and EVP, International Business Operations), and Kim Williams (EVP and Chief Financial Officer, Warner Bros. Entertainment) are all “exiting” the company per this arrangement. Ron Sanders has been with the company for almost thirty years, going all the way back to the early days of DVD. So his departure is a big deal. (Our friends at Media Play News have a good profile on Sanders up today here.)
But here’s the rub from the linked Deadline piece... “about 600 employees across multiple divisions are expected to be let go, starting today. Warner Bros Entertainment is believed to be heavily impacted.” [Read on here...]