Despite World War Z Success, Paramount Pictures Lays Off 110 Workers
Paramount Pictures staff are paying for the studio's failures in 2012.
Paramount Pictures is laying off 110 staff at its Los Angeles and international offices, with those in finance, human resources, information technology, international home media distribution and the legal and marketing departments hit hard by the cuts.
World War Z Was A Massive, Unexpected Hit For Paramount Pictures
In a memo to employees, Paramount's chief operating officer Frederick Huntsberry said, "Change is always difficult and we never take these steps lightly. We are confident that these changes will allow us to manage our business with greater speed and flexibility and fully capitalize on opportunities in the global entertainment market," according to the Los Angeles Times.
Worryingly, it's the second round of layoffs in about two years for the studio, with 120 employees losing jobs in October 2011. It was a relatively underwhelming 2012 for the studio, offering up only The Dictator, Madagascar 3, Katy Perry: Part of Me, Paranormal Activity 4, Flight, Rise of the Guardians, The Guilt Trip and Jack Reacher. Some of those movies made money, none with blockbuster hits.
However, the studio has since fought back with some recent hits including World War Z, with Brad Pitt, Star Trek Into Darkness from J.J Abrams and the action sequel G.I. Joe: Retaliation. The sci-fi flick earned some $467 million while Pitt's zombie apocalypse movie, which was blighted by delays, budget worries and script re-writes, took a massive $539 million. A sequel is currently in the works.
Chris Pine [L] and Zachary Quinto [R] In Another of Paramount's Hits 'Star Trek Into Darkness'
Despite the layoffs, Paramount should continue its good run towards the end of 2013 and into 2014, with The Wolf of Wall Street, starring Leonardo DiCaprio, Anchorman 2: The Legend Continues with Will Ferrell, and Noah, featuring Russell Crowe.