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Sony Pictures to cut 300 jobs

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Sony Pictures Entertainment is expecting to cut about 300 jobs — or about four percent of its employees — as early as next week, according to the Los Angeles Times. That number would be reached by a mix of layoffs and eliminating open positions. The studio’s revenue dropped eight percent in the most recent quarter, to $1.9 billion, which was attributed to declining DVD and television program sales. Sony declined to comment on the job cuts.