Sony to Lay Off 216 Employees in Culver City -- CEO Blames Summer Flop "After Earth"

As part of an effort to find $350 million in savings worldwide, Sony has reported that it will lay off 216 employees at its Culver City headquarters. The layoffs will reportedly include the elimination of Sony's interactive marketing division. Says the Wall Street Journal's "Explaining the need for the cost savings in November, Sony Pictures Chief Executive Michael Lynton cited the studio's shifting investment from movies to television, along with a brutal summer that included two high profile flops."

The two flops that Lynton is referring to here are Will Smith's enervated vanity piece "After Earth" and the Die Hard-in-the-White-House buddy pic "White House Down." These are the films that Daniel Loeb -- the founder of hedge fund Third Point, a major investor in Sony -- referred to as “2013′s versions of Waterworld and Ishtar."

Lest we lose pride in our local movie studio, however, Indiewire has this evaluation of Sony's 2013 successes: "The best news for the company came from one sleeper summer hit ("This Is the End") and two late-year awards contenders that are scoring worldwide ("Captain Phillips" and "American Hustle"). And all three combined averaged around $40 million in production budget." 

Views: 205


You need to be a member of Culver City Times to add comments!

Join Culver City Times

Comment by Crystal Covington on March 20, 2014 at 1:41pm

Will be interesting to see how this affects all the downtown eateries that have big crowds at lunchtime from Sony.  Having 200+ less people will definitely make an impact, it's too bad.

The Culver City Times is the news and social network for Culver City.  Stay informed.  Join now!

      • Got news you think everyone should know? Blog it.

• Have a show or attending a benefit? Put it on the calendar.
• Got video of the big game? Embed it.
• Photos of your business or the school play? Upload them.


  • Add Photos
  • View All

For daily updates

Enter your email address:

Delivered by FeedBurner

Latest Activity

Dudley Mcleod posted blog posts
7 hours ago
Culver City Julian Dixon Library's event was featured

Gardening with Drought Tolerant Plants at Culver City Julian Dixon Library

November 5, 2016 from 2pm to 3pm
13 hours ago
Emily Rumack's event was featured


November 5, 2016 from 12pm to 3pm
13 hours ago
Lucy Pollak's event was featured

World premiere 'Hansel & Gretel Bluegrass" narrated by Bradley Whitford with music of The Get Down Boys at 24th Street Theatre

October 29, 2016 at 8pm to December 11, 2016 at 3pm
13 hours ago
WWA gallery's event was featured

Alex Ross Superhero Art Opening at WWA Gallery

October 27, 2016 from 5pm to 8pm
13 hours ago
Marla Wolkowitz's event was featured

Travel to CCSCC's Sister City in Iksan, So. Korea at Culver City City Hall, Dan Patacchia Room

November 1, 2016 from 7pm to 9pm
13 hours ago
Joan Mead posted an event

Family Place Parent Child Workshop at Culver City Julian Dixon Library

October 31, 2016 from 6:15pm to 7:30pm
19 hours ago
King Of Culver City is now a member of Culver City Times

© 2016   Created by Culver City Times.   Powered by

Badges  |  Report an Issue  |  Terms of Service