Really folks? I wouldn't panic just yet. They are restructuring. Most of the layoffs were voluntary according to the news report. These may have been employees transferred to other lines when some of the more recent films had been cancelled. My hopes is that they are doing this well planned out and they will emerge leaner, meaner, and more profitably competitive.
Remember the auto industry? Bankruptcy, bailouts and restructuring. Now look at some of their profitability reports. They have emerged quite well and their products have improved.