Wednesday, 4 Kids Entertainment Inc. (KDE), a children's entertainment and merchandise licensing organization, said it axed about 15% of workforce across its subsidiaries and divisions and that it intends to cut down the operating expenses by an additional $4 million - $5 million in 2009.
With the staff cuts, 4 Kids said it would incur a severance charge of approximately $375 thousands in the fourth quarter. However, in 2009, the company expects to save $15 million - $18 million with reductions in staff and cuts in operating expenses, along with the early termination of its agreement with Fox Broadcasting Company.
Commenting on the steps, Chief Executive Officer, Alfred Kahn said, "The streamlining of our organization and further reduction in operating expenses will better position the Company to ride out the current economic storm".
The stock closed Tuesday, at $2.02 on the New York Stock Exchange.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.