On Monday, Time Warner began downsizing New Line Cinema by laying off 450 employees in New York and Los Angeles.

According to The Hollywood Reporter, about 40-50 staff persons will remain at the former mini-major, which is being retooled as a genre-oriented label within Warner Bros. as part of a Time Warner cost-cutting effort. Another 40 New Line employees are being offered positions elsewhere within Warners.

The pink slips will continue Tuesday. A Time Warner spokesman would not comment on who will remain while the notification process was ongoing.

Cinemark Movie Club