Fates and Fortunes

We're not out of the woods yet

2/01/2010 07:59:50 PM

Two layoff announcements hit our industry today, reminding us that while it may feel like the economy is on the mend, people still are losing their jobs. To these unlucky folks, any economic recovery just got put a lot further off.

News began trickling out over the weekend that CBS News had begun a new round of layoffs, which will affect less than 7% of the news division, including some staffers at veteran news hour 60 Minutes, or up to 100 people.

Last week ABC News laid off 31 people in broadcast operations and engineering. The department plans to eliminate more jobs later this year, bringing the total reduction in staff to about 70 positions. Some of those cuts will involve union positions.

This afbishopternoon, Sony Pictures Entertainment began informing staff that some 450 people will be laid off, while another 100 open positions will be closed without being filled. Sony executives blamed falling DVD sales and cost-cutting measures for the layoffs, which represent 6.5% of the company’s 6,800-person workforce.

Last Wednesday (Jan. 27), David Bishop (pictured left), president of Sony Pictures Home Entertainment, announced he was restructuring his executive staff, a move that saw a few execs depart the company. That announcement apparently portended these much broader layoffs. A little more than a year ago, when the economy was at its nadir, Sony laid off 8,000 full-time employees and 8,000 more seasonal and temporary employees.

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