Miramax Films could lay off as much as 20% of its workforce in an attempt to implement cost-cutting measures. Mirimax is co-owned by Disney, who has put a financial squeeze on the company in order to improve profit. Sources say that the total number of jobs cut could reach as high as 100 out of 450 Miramax employees worldwide, and it is unclear how the layoffs would be divided between the company's offices in New York and Los Angeles offices.
See "Miramax May Lay Off 20% of Its Workforce", Claudia Eller and Richard Verrier, Chicago Tribune, June 17, 2004