New Line Cinema logoTime Warner has been sending out the pink slips en masse to New Line Cinema employees this week. Only about one month ago, New Line was brought under the Warner umbrella. The layoffs began on Monday, and will cut about 450 employees off the rolls across both New York and Los Angeles offices. We're sad to see the cuts, and hang on to hopes that this will not have not a negative impact on the Lord of the Rings trilogy coming to Blu-ray. New Line isn't disappearing, and will be left with a small team for production, marketing, publicity and business affairs. [Disclosure: Engadget is part of the Time Warner family.]

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