New Line Severance Not All It Could Be

wb-new-line-logo.JPGI'm told that in meetings last week which Time Warner boss Jeff Bewkes had with rank-and-file New Line Cinema employees, he promised that New Line's severance for them would be "at least" what had been paid by that studio in the past. But New Liners received the criteria today, according to sources, and saw it is "far less" for longtime employees of the studio than for those who had been cut in the past. As it was explained to me, bewkes-small.jpg"Staff is getting the same as the laid-off staff at TW HQ in New York, which is more than New Line has historically done. Good for TW. However, even those who are not VPs who have been at New Line more than 17 years have a cap on their severance pay. And those who are VPs are getting less per year than historically given at New Line." If Bewkes did break a promise, that sucks. A Warner's source put it this way: "It may be far less than what they got in the past, but it's in line with the same severance package that people at Time Warner received recently when they laid off 100 people at HQ. But I dont know what Bewkes really said in that meeting." 

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5 Comments »

  1. Wow. Jeff Bewkes break promises? Underestimate damage? Intentionally mislead? Outright lie? Jeez, you wouldn’t expect that given the press releases and statements that came out last Thursday that covered up the utter gutting of the studio — which, of course, he detailed to Variety later that same evening — would you? I’m curious if he has a tattoo of crossed fingers on his bicep.

    Comment by Fielding Mellish — March 7, 2008 @ 4:31 pm

  2. Yes, but did anyone forward you the red line copy of the severance package? Time Warner HR sent out the letter regarding severance and sent the red line word document by accident ! This document outlined the severance package that Bewkes told everyone about in the meetings!!!

    Comment by alison — March 7, 2008 @ 4:41 pm

  3. Hey I got the redline copy too! My favorite two comments were - “People have been asking alot of questions about this. This is going to be a problem”

    Comment by about to be laid-off... — March 9, 2008 @ 8:06 pm

  4. Yes, and all inquiries sent to Human Resources about the discrepancy in what we were told vs. what we’re getting are being answered in “form letter” style. So much for the “human” in human resources!

    Comment by about to be laid off, 2 — March 10, 2008 @ 7:36 am

  5. When will the announcement be??? I want my severance already…albeit shitty it will be.

    Comment by Mickey — March 18, 2008 @ 5:23 pm

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