Paramount axes 40 in London as the scene shifts to Hollywood
Paramount Pictures is laying off 40 people at its London office as it moves the headquarters of its international operation to Los Angeles . The planned move , said to be so that the international team can work more closely with the rest of the studio, was originally flagged up a month ago .
The mountain is moving to Los Angeles
Andrew Cripps, who has headed Paramount Pictures International in London since 1999 - and is described by Screen International as a " titan" of the business - has decided not to make the move to Hollywood. Among other things, Cripps orchestrated the blockbuster Transformers releases outside North America
Paramount is also laying off 80 of its 2,400 employees in Hollywood, as it merges it DVD, television and digital divisions
Cuts had been expected as part of a reorganisation of Viacom-owned Paramount's business operations, said the Los Angeles Times. Other studios are cutting expenses as DVD revenue slips and "the gap narrows between releases of movies on different platforms." In June, Walt Disney Studios laid off 200 of its 5,000 workforce .
The man replacing Cripps in Hollywood is Anthony Marcoly, former president of Walt Disney Pictures International - who left Disney last year "as part of an exodus of senior executives" -said the Times.
He and Paramount Vice Chairman Rob Moore worked together previously at Disney.