Faced with slumping DVD sales and a worsening economy, Sony Pictures Entertainment plans to cut about 300 jobs, or about 4% of its workforce, the Los Angeles Times reports.
The cuts, which could happen as early as next week, will come through layoffs and by eliminating open positions. Sony has already tried to trim costs by reducing travel and entertainment expenses, restricting overtime pay and filling open positions with temporary workers.
Despite a thriving box office this year, Hollywood has already gone through a series of layoffs at studios including Warner Brothers, Universal Pictures and Paramount.
Sony’s parent company has been the one most hard-hit by the weak global economy. Sony Corp recently cut 8,000 jobs.
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