BROWNNOSE
BOOTLICKER
MGM cuts 50 jobs in bankruptcy plan
LOS ANGELES, -- MGM laid off about 50 Los Angeles employees this week as part of a pre-packaged bankruptcy plan for the studio, sources said.
The Los Angeles Times said Saturday that sources familiar with the situation said the layoffs hit the studio's distribution unit and had been expected.
The Hollywood Reporter said MGM filed for bankruptcy Nov. 3 and has been working on a $500 million financing package that will get it back on track.
__________________
LOS ANGELES, -- MGM laid off about 50 Los Angeles employees this week as part of a pre-packaged bankruptcy plan for the studio, sources said.
The Los Angeles Times said Saturday that sources familiar with the situation said the layoffs hit the studio's distribution unit and had been expected.
The Hollywood Reporter said MGM filed for bankruptcy Nov. 3 and has been working on a $500 million financing package that will get it back on track.
__________________