Friday, 17 Oct, 2008 Current Events

Playboy Will Stop the Production of DVDs to Stay Afloat


In order to be able to keep its business afloat, Hugh Hefner decided that Playboy should to stop the production of DVDs. In such a way the multi-million dollar business will save $12 million each year.

According to the representatives of the glamour empire, the company is going to pay more attention to the distribution of its content over the Internet.

The changes that will be made by Playboy Enterprises Inc will end in the loss of 80 jobs, plus $2 million in reorganization charges, the Telegraph reports. In the 4th quarter the company anticipates a number of benefits from the cuts. Its changes are expected to have full effect in 2009.

In September, Hugh Hefner decided to cut back on staff in the times when Playboy Enterprises Inc faces problems that occur from economy crisins. The tycoon was advised to cut jobs in the company's offices located in Los Angeles and New York; otherwise the empire would go bankrupt. During the crisis Playboy's shares registered a significant decrease.

The economy crisis is not the only problem the tycoon's having. Holly Madison, Hugh Hefner's girlfriend walked out on him. It seems like the main reason was that the businessman failed to have a baby with his number one girlfriend.

Despite the break up and the side-effect it had on Hefner, the tycoon does not remain single. He has now two new girlfriends: Kendra Wilkinson, 23, and Bridget Marquadt, 35, who replaced the previous seven Playmates in the Beverly Hills mansion.

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