Lay offs at 4kids....oi
 

http://news.awn.com/index.php?ltype=...sitem_no=25787

4Kids Ent. will cut its workforce by 15 percent across all subsidiaries and divisions in an attempt to better align its organization and overall cost structure in the current challenging economic environment.

As a result of the staff cuts, 4Kids will be incurring severance costs of approximately $375,000 in the fourth quarter of 2008. The company has also completed a comprehensive review of its operations and will be taking steps intended to reduce operating expenses by an additional $4 to $5 million in 2009.

These staff reductions and projected cuts in operating expenses, together with the early termination of the 4Kids/Fox Broadcasting Company Agreement effective December 31, 2008, which was announced in November, are expected to result in pretax savings of $15 to $18 million in 2009.

"We have taken some critical steps to respond to the litany of challenges presented by the worldwide economic crisis," said Alfred R. Kahn, Chairman and CEO of 4Kids Ent. "The streamlining of our organization and further reduction in operating expenses will better position the company to ride out the current economic storm."

... yeah....

If only we still had that big fat budget surplus that Clinton left us with... Or the companies that got those fat tax cuts actually invested in them, instead of throwing them into the "profits" pile... maybe the economy wouldn't have freaking collapsed like a house of cards in the wind.

This sucks for 4Kids. They're the only ones doing Saturday mornings now (not just phoning it in with pre-existing shows to keep an FCC license)...

It's getting to where it's not even news anymore that a company is firing people. I read and/or hear about at least ten a day.

I'll be honest here, the first person that came to mind is our budy who updates the tmnt blog.

$#!+, you know, the thought never crossed my mind... then again, I first read this post before my morning coffee... Lord I hope he keeps his job.

So much for sending my resume...


Hopefully, we saw him on the other day with some (bizarre) video links... maybe he'll stop in and give us the yea or nay that he's still got his job. :ohwell:

this is depressing me more and more especially since I want to get into this feild of work. Thanks so f*cking much for up the economy to screw over a generation of college graduates about to enter the work force. :evil:

You're welcome?

Why would you want to work at 4kids?