Kenneth Li from Reuters reports, “About 40 to 50 existing New Line employees will remain at the division renowned for its blockbuster hit franchises, including the “Lord of the Rings” series,” while 40 employees will be rehired for new positions at Warner Bros. Meanwhile, 450 employees will lose their jobs all together, in a move to improve business performance and financial returns, according to chief executive Jeff Bewkes. “It was not immediately clear how much the company would save or what type of charges it would likely take as a result of the cuts.” Read more
450 New Line jobs lost
April 15, 2008
This entry was posted in The Subtle Knife movie. Bookmark the permalink.
That really hurts. Independently of their TGC fiasco, I really liked New Line.
i did before they ruined my favorite book 😛
I suppose this is the end for any hope of any sequels made by New Line.
My hope will rest with Warner and whether they can get the distribution agreements that would make the film profitable for them.
It makes me wonder what will happen to New Lines other major projects. They are supposed to be making The Hobbit, I doubt that this will go ahead in the way that was planned.