[Delenn]

Quote

Sony has quantified its latest round of pink slips at 450 layoffs or nearly 7% of the Culver City studio's worldwide work force of 6,800 employees.

Another 100 open positions will be eliminated. More than half of the layoffs will hit its home-entertainment division and various areas of IT staffing, reflecting a continuing industrywide decline in DVD revenue. Most of the pink slips will affect U.S. employees.

In March, Sony laid off 250 workers and eliminated 100 open positions.

In a video message to employees, Sony Pictures Entertainment co-toppers Michael Lynton and Amy Pascal attributed the moves to a changing entertainment landscape. The duo were unavailable for interviews, but a corporate spokesman provided a partial transcript of their recorded remarks.

Sony laying off 7% of work force

[skytrekker]

Yes

DVD sales are down-- but the global slowdown in sales in the real reason.

[T.S.]

I stopped buying DVD's a few years ago. I have a Blu-Ray player now, but don't own a single Blu-Ray disc. I just rent or stream anything that I want to watch through Netflix.

I always see lines at those Redbox machines now too. $1/day to rent sounds much better than $15-$35 to buy the DVD or Blu-Ray disc, especially when many people are currently trying to save money.