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