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New round of layoffs....
Old 21st January 2009
  #1
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charles maynes's Avatar
 
🎧 15 years
New round of layoffs....

WB is laying off 800 world wide, and 400 in Burbank-
Clear Channel is laying off 1850
And Disney is expected to cut staff at ABC....

hope you all are not effected....
Old 21st January 2009
  #2
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JSt0rm's Avatar
 
🎧 15 years
as a freelancer in LA I have no doubts about feeling this. i just hope i can hang on till it gets good again. If that happens.
Old 21st January 2009 | Show parent
  #3
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charles maynes's Avatar
 
🎧 15 years
diversify your clients.... because there will likely be more folks competing as independents soon.

"No fate, but what you make"- as Sarah Conner said in Terminator 2
Old 21st January 2009 | Show parent
  #4
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dkerins's Avatar
 
🎧 10 years
I had a lot of friends lose their jobs yesterday. All CC folks. Rough times.....
Old 21st January 2009 | Show parent
  #5
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🎧 10 years
It's all clerical and accounting layoffs over at WB.

Right?
Old 21st January 2009 | Show parent
  #6
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charles maynes's Avatar
 
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Quote:
Originally Posted by emf1138 ➑️
It's all clerical and accounting layoffs over at WB.

Right?
Are there 400 clerical and accounting people that can be layed off there in Burbank? they were talking 10% of their workforce.... 800 jobs total.
Old 22nd January 2009 | Show parent
  #7
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bcgood's Avatar
 
🎧 15 years
My friend got his pink slip this week. This crisis is starting to really hit home. It doesn't feel like a news story anymore. This is the real deal.
Old 22nd January 2009 | Show parent
  #8
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🎧 10 years
Like I said in another thread, I get laid off after every project.

The only thing that concerns me though is that this may mean a cut back in the number of films that are being shot.

Then again, it could just mean that the studios are getting rid of dead weight. It seems to me that there are a fair number of people with production deals making money on projects that never get shot. Getting rid of them might be a good thing for me, since I only work on films that actually get made.
Old 22nd January 2009 | Show parent
  #9
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charles maynes's Avatar
 
🎧 15 years
Gary- I know I dont count in the numbers, I am not sure if you are a staff member or not, but I think that those folks are the ones in the most danger....

this was after WB had a very profitable year too.... those loans they used to pay off the new audio dept are going to hurt if they cant keep the rooms booked....
Old 22nd January 2009 | Show parent
  #10
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Of course I hate to see anyone lose a job if they are actually being productive.
Old 22nd January 2009 | Show parent
  #11
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🎧 10 years
Quote:
Originally Posted by charles maynes ➑️
Gary- I know I dont count in the numbers, I am not sure if you are a staff member or not, but I think that those folks are the ones in the most danger....

this was after WB had a very profitable year too.... those loans they used to pay off the new audio dept are going to hurt if they cant keep the rooms booked....
I only get paid when there is work. It's been that way since I left Todd AO after they sold to Liberty Media (Ascent).

When bookings at the major studios get slow, it's always bad for independents like me because they can and will give lowball bids on lower budget films and book them on the premier stages just to keep their mixers working. I rely on the mixers at the major studios staying busy making blockbusters.

The important thing to remember, though, is that the studios can't make money if they don't make movies, so I doubt things will totally dry up, even though belts are being tightened. Unfortunately, budgets could diminish further, however.
Old 22nd January 2009 | Show parent
  #12
Here for the gear
 
🎧 10 years
Quote:
Originally Posted by ggegan ➑️
The important thing to remember, though, is that the studios can't make money if they don't make movies, so I doubt things will totally dry up, even though belts are being tightened. Unfortunately, budgets could diminish further, however.
Unfortunately, there's another possibility: that some studios won't be able to survive. Sure, it seems unthinkable that WB could fail, but two years ago it seemed unthinkable that Lehman Bros, AIG, WaMU, etc. etc. could fail.
Old 22nd January 2009 | Show parent
  #13
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charles maynes's Avatar
 
🎧 15 years
Sony is tanking..... I am sure there are nervous folks in Culver City.....
Old 22nd January 2009 | Show parent
  #14
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soundboy's Avatar
 
🎧 10 years
We thought that Carolco and Lorimar would stick around. The large studios were bought by large corporations that aren't in the business of making movies. The main reason they were purchased was for their libraries of films. DVD sales make up the majority of the profitability of these companies. Making movies is a risky investment. If times get too tight, some of the glamour of making movies will dry up, and so will the financing. Most of the studios are closing their independent features arms.
Old 22nd January 2009 | Show parent
  #15
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🎧 15 years
Question Sony at a loss

Quote:
Originally Posted by charles maynes ➑️
Sony is tanking
Indeed. Sony’s 1st Loss in 14 Years Looms as Analysts See Forecast Cut. How insulated is Sony Pictures from Sony Corporation?
Old 22nd January 2009 | Show parent
  #16
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charles maynes's Avatar
 
🎧 15 years
Quote:
Originally Posted by hociman ➑️
Indeed. Sony’s 1st Loss in 14 Years Looms as Analysts See Forecast Cut. How insulated is Sony Pictures from Sony Corporation?
http://www.sony.net/SonyInfo/IR/fina...SonyAR08-E.pdf

I am going through it right now....


basically for SPE, revenue fell 11.2%, while costs increased 26.5% which makes for a 37% shortfall from 2007.

I would say that is not a good thing for them- (check p55 of the report for that)
Old 22nd January 2009 | Show parent
  #17
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Quote:
Originally Posted by charles maynes ➑️
http://www.sony.net/SonyInfo/IR/fina...SonyAR08-E.pdf

I am going through it right now....


basically for SPE, revenue fell 11.2%, while costs increased 26.5% which makes for a 37% shortfall from 2007.

I would say that is not a good thing for them- (check p55 of the report for that)
I live a block south of Sony in Culver City and I can tell you that they are going through a major remodel of the lot. The new construction is substantial and that may have a lot to do with the increased costs. Based on what I can see from my second story window, I'd say they are expecting expansion in the future rather than contraction.
Old 22nd January 2009 | Show parent
  #18
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I'm pretty much a glass half full kind of person. I am optimistic that there is money to be made in motion picture entertainment in any kind of economy, as long as the producers can recognize trends and adapt.

We will also have to adapt. I would assume that budgets are going to tighten up more than they already have, and we will have to figure out how to turn out high quality professional sound for less than we ever thought was possible. I think that post facilities in general are going to get hit hard because of the high overhead, but the agile ones will do well if they look for new production models.

I predict a lot more mainstream feature work like predubs, M&Es, DVD versions, etc. being done in people's small garage studios and large dub stages becoming mostly used for finals. That means having to book a higher number of films per year with less time for each one. Todd AO has already decimated the number of large stages around Hollywood and Disney also has downsized, so maybe there won't have to be too many more closings of dubbing facilities.

I also predict that direct to DVD productions and their internet equivalents will become much more numerous. This thought scares a lot of my co-workers in town, but I think that every change brings opportunity for those who are willing to be creative about how to prosper in the new markets.
Old 22nd January 2009 | Show parent
  #19
Gear Nut
 
🎧 10 years
I want to stay optimistic as well. A lot of HDTVs were sold last year and I don't see HD re-runs of Bewitched being a big selling point. With people unable to travel or make as many luxury purchases as they used to. What's left? TV, Movies, and Games.
Old 22nd January 2009 | Show parent
  #20
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TVPostSound's Avatar
 
🎧 10 years
Motion pictures have historically survived all economies.
They are an escape during hard times, they will continue to prosper.
Old 22nd January 2009 | Show parent
  #21
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charles maynes's Avatar
 
🎧 15 years
for the independent, this is a marvelous time of oppertunity...
Old 22nd January 2009 | Show parent
  #22
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santacore's Avatar
 
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Quote:
for the independent, this is a marvelous time of oppertunity...
As an independent, I sure hope so.
Old 22nd January 2009 | Show parent
  #23
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charles maynes's Avatar
 
🎧 15 years
Quote:
Originally Posted by santacore ➑️
As an independent, I sure hope so.
John, you know all this.... It is just a matter of not over-extending and diversifying your client base....


a tip- the money is in games.
Old 22nd January 2009 | Show parent
  #24
Gear Addict
 
🎧 10 years
Quote:
Originally Posted by charles maynes ➑️
John, you know all this.... It is just a matter of not over-extending and diversifying your client base....


a tip- the money is in games.
I agree, but I have some friends in the game business, not audio related, and there have been layoffs over there too. I do think some of these companies are using the economy to lay people off even if they post profits.
Old 22nd January 2009 | Show parent
  #25
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charles maynes's Avatar
 
🎧 15 years
Quote:
Originally Posted by soundguydave ➑️
I agree, but I have some friends in the game business, not audio related, and there have been layoffs over there too. I do think some of these companies are using the economy to lay people off even if they post profits.
the model in that marketplace is headed in the same place film workers live- non-staff positions being hired on a project-by-project basis. If you can fit into to that paradigm there is a lot going on. The upside on the game audio side is that the projects have a longish- (1 year or longer) runtime.

As has been mentioned in this and other threads, diversity is somewhat necessary.
Old 22nd January 2009 | Show parent
  #26
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🎧 15 years
Quote:
a tip- the money is in games.
Not necessarily. Last year, one of my clients who does a lot of game localization, set up shop in China. He's recording the bulk of his games over there now, and only records the bigger titles in Los Angeles with me. I guess $10 an hour for studio and engineer is too good to resist. Of course the talent pool is not quite the same as here in LA, but apparently it's good enough.

I can only hope that sound designers and engineers on domestic projects are doing better.
Old 22nd January 2009 | Show parent
  #27
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charles maynes's Avatar
 
🎧 15 years
Quote:
Originally Posted by santacore ➑️
Not necessarily. Last year, one of my clients who does a lot of game localization, set up shop in China. He's recording the bulk of his games over there now, and only records the bigger titles in Los Angeles with me. I guess $10 an hour for studio and engineer is too good to resist. Of course the talent pool is not quite the same as here in LA, but apparently it's good enough.

I can only hope that sound designers and engineers on domestic projects are doing better.
its about having a wide client base.... there are a lot of indepents doing reasonable well in that business-

Language skills are a good thing to aquire too- Spanish skills in Los Angeles especially- because there is a big Latin media industry here in LA.

Microsoft just announced their first layoffs ever- they are cutting 5% of their workforce....
Old 22nd January 2009 | Show parent
  #28
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charles maynes's Avatar
 
🎧 15 years
Sony Losses Spiral To $2.9 Billion, Game Division Underperforms
Sony Corp. has revised its projected annual operating loss from a previously expected figure of Β₯100 billion ($1.1bn) to as much as Β₯260 billion ($2.9bn).

As previously reported, the loss will be the company’s first in 14 years and only the second in its history.

The strong yen and declining demand for its products in the current global economic environment were again blamed for the results. Previously, Sony had expected a Β₯200 billion profit for the year.

As stated yesterday, the company is accelerating its restructuring plans, with job cuts of up to 16,000 expected. According to a Reuters report, Sony has doubled its cost-cutting target for the financial year ending March 2010, to Β₯250 billion ($2.8bn).

As part of its cost-cutting initiatives, Sony indicated future headcount reductions and other restructuring measures to its movie, music, and games divisions, according to a Sony presentation slide published by game weblog Kotaku:
Old 22nd January 2009 | Show parent
  #29
Gear Guru
 
charles maynes's Avatar
 
🎧 15 years
more unfortunately....


Report: Sony Restructuring Imminent Amid Management Tension
Sony is about to announce specifics of its restructuring plans, including details of an anticipated 16,000 job cuts.

News of the imminent announcement comes from the Financial Times, which also reports that British-born Sony chairman Howard Stringer faces some challenges from "old guard" Japanese manufacturing execs on the specifics of the restructuring.

As a company, Sony's believed to be at an operational crossroads that applies to all of its businesses. Stringer has advocated a migration from a product-focused business model with high production costs to a commodity-focused model with a greater investment in built-in software, and the transition is reportedly causing internal management tension.

As a global organization rooted in Japan, Sony also must contend with that country's cultural tendency toward lifetime jobs; the Financial Times describes "acute sensitivity" toward firing Japanese staff. But given that an unspecified Sony manager told the FT that there's "a lot of fat" in the company's Japan operations, sparing that staff could anger the company's foreign employees.

Media reports have suggested that Sony could post a $1.1 billion loss for its fiscal year ending in March -- not only the greatest loss in its history, but only the second operating loss ever in the company's existence.

Sony Computer Entertainment specifically continues to struggle to attain profitability for the PlayStation business, and has suffered diminished hardware sales in recent months. Nonetheless, SCEE president David Reeves believes the restructuring at Sony is likely to spare the PlayStation division.

POSTED: 06.25AM PST, 01/21/09 - Leigh Alexander - LINK
Old 22nd January 2009 | Show parent
  #30
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georgia's Avatar
 
🎧 10 years
SONYs technology arm has been a mess for years.. their products used to be more expensive and better than everyone... now they are just more expensive... Each technology group is run like its own company...very fifedom oriented... makes for expensive and difficult to manage overhead.... this may have little effect on the entertainment side... .. or not.

cheers
geo
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