My selection of industri news

Lionsgate Entertainment Corporation is currently one of, if not the most successful distributor of films and television programs in North America. The firm hit the big time in 2000 with the box office success of the film “American Psycho” and was followed by other profitable ventures such as “Affliction,” “Dogma,” Michael Moore’s “Fahrenheit 9/11,” and the gory “Saw” series.
News that it intends to lay off 42 or around 8% of its 500-strong workforce is testament to the fact that even the movie industry has been hit by the financial crisis. This downsizing is the latest of a series of layoffs done by the company since last summer which totalled to 41 employees losing their jobs in 2008. Combined, these layoffs will amount to around $15 million to $20 million in savings for the company.