Lay offs at 4kids....oi

*Raph's Girl* · 12-17-2008, 08:57 PM

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."

*Drtooth* · 12-18-2008, 08:56 AM

... 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)...

*Ninjinister* · 12-18-2008, 09:03 AM

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.

*VaughnMichael* · 12-18-2008, 09:29 AM

Quote:

Originally Posted by The Ninjinister

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.

*Ninjinister* · 12-18-2008, 12:04 PM

Quote:

Originally Posted by VaughnMichael

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.

**Machias Banshee** · 12-18-2008, 12:54 PM

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.

*Sage Ninja* · 12-18-2008, 01:03 PM

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.

*The Stryker* · 12-18-2008, 03:52 PM

Quote:

Originally Posted by Sage Ninja

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.

You're welcome?

*Hannah* · 12-18-2008, 07:05 PM

Why would you want to work at 4kids?

12-17-2008, 08:57 PM	#1
Raph's Girl Dierna Soul, Reporter Join Date: Mar 2005 Location: Jakku Posts: 10,831	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." __________________

12-18-2008, 08:56 AM	#2
Drtooth Foot Elite Join Date: Dec 2003 Posts: 4,439	... 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)... __________________ [Insert mildly amusing banner here]

12-18-2008, 09:03 AM	#3
Ninjinister 無問題 Join Date: Jan 2004 Location: Moesko Island, WA Posts: 14,348	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. __________________

12-18-2008, 01:03 PM	#7
Sage Ninja Band of the Hawk Join Date: Apr 2005 Location: USA Posts: 3,927	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. __________________ Cassandra: You won't fight me, but will you fight--for him! Cassandra's Revenge ~Tangled the Series ________________________________ http://frankviola.org/2012/01/30/godsviewofawoman/ _______________________________ http://nox-artemis.tumblr.com/post/4...k-and-feminism

12-18-2008, 07:05 PM	#9
Hannah Once more, with feeling! Join Date: Dec 2003 Location: Chicago, IL Posts: 4,111	Why would you want to work at 4kids? __________________

12-18-2008, 12:54 PM	#6
Machias Banshee Super Moderator Join Date: Dec 2001 Posts: 17,163	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.