Disney's Miramax Cuts Staff by 14 PCT
The cuts, which took place on Friday, hit about 75 of the Walt Disney Co.-owned company's 540 staffers, mostly in lower- or mid-management positions, the paper said. Employees were affected at the New York head office, as well as in Los Angeles, London and Rome, it added.
The paper quoted a spokesman as saying the studio had
increased its staffing by 16 percent over the past four months, and Friday's cuts restored numbers to October levels.
Miramax has suffered several setbacks in recent months. Talk magazine, which it funded with Hearst Corp., went out of business, and expensive productions such as ***"The Shipping News"*** and ***"All the Pretty Horses"*** flopped.
On the other hand, it has done well by distributing films it has acquired, such as the family tragedy ***"In the Bedroom"*** ($32 million to date at the North American box office), and the French romantic comedy ***"Amelie"*** ($30 million). Both will compete for five academy awards next Sunday. The Iris Murdoch Biopic ***"Iris"*** ($3 million) received three Oscar nominations.
A Miramax spokeswoman did not return a call seeking comment.