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4Kids Entertainment Lays Off About 15% of Workforce
posted on by Egan Loo
Layoffs, early end to Fox pact, expense cuts expected to save US$15-18 million
The international children's media and licensing company termination of its Fox programming agreement this month, and other reductions in operating expenses to gain US$15 to US$18 million in savings next year. 4Kids reported a increase in its earnings to US$49.4 million in the first nine months of 2008, but it also reported a higher net loss at US$17.2 million in the same time period.
Among titles, 4Kids is involved in the Sonic X franchises.
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