AILING MGM CUTS 80 STUDIO WORKERS.Financially strapped strapped adj. Informal In financial need: We are strapped for cash right now. strapped Adjective strapped for Slang movie studio Metro-Goldwyn-Mayer laid off 80 employees Wednesday, and a company spokesman warned that more job cuts could be on the way. Spokesman Craig Parsons Parsons, city (1990 pop. 11,924), Labette co., SE Kans.; inc. 1871. It is a shipping point for dairy products, grain, and livestock. Manufactures include ammunition, wire and paper products, plastics, and appliances. said the firings were necessary to help reduce costs. ``We needed to make some reduction, of which employee cuts are one component. We're looking at other means to trim expenses,'' he said. The layoffs were in distribution, production, international sales and marketing. MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. , which distributed such classic films as ``The Wizard Instructional help in an application or system development environment that guides the user through a series of multiple choice questions to accomplish a task. For the most part, wizards are more effective than the help menus found in most applications, which often border on the atrocious. of Oz'' and ``Gone With the Wind,'' has previously said only $132 million remained in its $1.3 billion credit line. The studio's majority shareholder, financier Kirk Kerkorian Kerkor "Kirk" Kerkorian (Armenian: Քըրք Քըրքորյան) (born June 6, 1917) is an American billionaire, and president/CEO of Tracinda Corporation, his private holding , has pledged to increase his investment in MGM by as much as $500 million by backing an offering that will allow existing shareholders to buy additional stock at a discount. MGM also has said it would halt development of new television shows to focus its limited resources on 10 programs already scheduled to air this fall. |
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