Miramax lays off 13 percent of staff

Started by Myxo, August 14, 2004, 04:58:06 PM

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Myxo

Story here.

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NEW YORK (AFP) - Walt Disney's Miramax film company announced the layoff of 65 of 485 workers to cut costs.

"This is not a reflection on anyone's performance," Miramax spokesperson Matthew Hiltzik said.

Miramax has scheduled only 18 films for release in 2004, after 22 in 2003 and 31 films in 2002.

"It is simply an effort to bring staff levels in line with a smaller release slate," Hiltzik said.

Miramax films had already spent by mid-June the bulk of its Disney-approved budget, according to press reports.

The layoffs came at a critical moment for relations between Bob and Harvey Weinstein, the brothers who run Miramax, and Disney CEO Michael Eisner.

The brothers clashed with Eisner over Disney's refusal to distribute "Fahrenheit 9/11," filmmaker Michael Moore's anti-Bush documentary.