New Line Set To Slash 90% Of Its Workforce

Sad news to report. The rumors that we heard earlier this afternoon about impending layoffs at The House That Freddy Built have come to fruition. Variety is reporting that Time Warner is pinkslipping 450 New Line staffers, a number that equates to nearly 90% of their current payroll, as the newly scaled-down shingle merges into the larger Warner Bros fold. The worst part? Although notifications of the dismissals began earlier this afternoon, they won’t be completed until tomorrow, which means that a number of employees will be spending the evening unsure as to whether or not they’ll even have a job at this time tomorrow. Synergy just ain’t what it used to be. If you hear or see anything else (memos, etc.), please send ‘em our way. [Variety]