Miramax to Lay Off a Third?
Trouble brewing after budget overruns.
The New York Post is reporting that Miramax could be about to lay off one third of its work force after budget overruns on its projects and overestimated box office results. While cutbacks were expected these figures are worse than was expected and unfortunately the news doesn't get any better for the company as it is currently going through a bit of a rough patch.
One of the studio's co-chairmen is still in the middle of a long running dispute with Miramax's parent company Disney and is expected to leave at some stage. Weinstein could ultimately end up competing against his former company if some rumours are to believed. This comes despite the fact that his brother, Bob Weinstein, is said to remain in his role as chairmen of Miramax.
Piaras Kelly
Editor, Kikizo Movies
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