CPM confirms staff cuts, blames Musicland bankruptcy

In an apparent response to rumors about financial troubles at Central Park Media, managing director John O'Donnell has issued a statement:

As our business has been significantly impacted by Musicland's bankruptcy filing, we are facing tightening sales conditions and are currently focusing on a cost cutting program which will structure the company for future growth without our largest customer. A number of very talented and dedicated employees have unfortunately lost their jobs through no fault of their own. CPM will be happy to assist these fine staff members find employment opportunities, so any company seeking experienced and professional employees are requested to email CPM at HR519@teamcpm.com for further details.

According to ICv2, "O'Donnell said that this statement is the extent of what's accurate."

In a post on the Anime on DVD message board on Saturday, CPM marketing representative Peter Tatara announced that he was among those let go by the anime and manga producer.

On May 19, CPM announced a new deal with Consortium Book Sales & Distribution for North American book distribution, set to begin June 1.

New York City-based CPM has been a producer and distributor of anime in the United States since 1990. It began producing manga in 1994.