The ailing worldwide economy isn’t just affecting factories and other conventional businesses, the entertainment industry is starting to feel the pinch as well. One of the major arms in entertainment news announced today that it has suspended an entire branch of its news organization. Variety has suspended continuation of its “Variety Asia” staff for an indefinite period of time.
Citing the financial crisis as the reason for the decision, Variety as let go 30 of its Asia Variety staff listing them as redundant. Included in the cuts are Asia editor Patrick Frater and Hong Kong correspondent/web editor Marcus Lim. They are out of a job as of February 2, 2009.
The rest of Variety’s staff have to be wondering if other extended branches of the famed entertainment paper might be next, such as Variety Europe and Variety Middle East.
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