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Morgan set to slash work force

World Brief

Val Morgan, Australia’s only national cinema advertising contractor, is laying off about 100 staffers, more than half its work force, after deciding to shutter its slide-advertising division in December to concentrate on 35mm blurbs.

The major chains Hoyts, Greater Union and Village Roadshow jointly acquired the company earlier this year after its parent Television & Media Services ran up heavy debts.

Slides, which were popular among small local businesses, accounted for 30% of Val Morgan’s revs but were very labor-intensive and unprofitable.

Firm is launching Digital Motion Graphics to convert stills to moving images in a bid to retain some clients who paid for slides.

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