Walt Disney Studios has recently announced that it will be laying off 50 out of the 75 employees working at Miramax Films.

In the last few years Miramax has produced movies including “No Country for Old Men,” and “The Queen.”

The studio will now only be producing 3 films a year rather than the typical 8 films a year.

Sounds like a bummer to us! What about you?

Source: Examiner.com, Image Via Flickr

Related News:

• Miramax Films Goes Out Of Business
• Walt Disney Company Pushes Back Deadline For Miramax Films bidding
• Summit Entertainment Pulls Out Of The Bidding For Walt Disney Company’s Miramax Films
• Former President Of Miramax, Daniel Battsek, To Work On National Geographic Films
• The Walt Disney Company Is Looking To Sell Miramax Films
• Changes Being Made At The Walt Disney Company By Bob Iger
• Miramax Films “The Switch” International Movie Poster