Looks like layoffs are coming to Warner Bros, but no definite date or definite number has been set yet. In a memo sent to staff today at 5:02 PM PT, CEO Kevin Tsujihara said: “We are doing our best to minimize staff reductions. However, and it pains me to say this, positions will be eliminated — at every level — across the Studio.” Sources tell Deadline that today’s announced pink slipping is part of a long-term growth strategy the studio has been planning for a while. However, the recent failed bid by Fox to take over WB certainly “accelerated the implementation of the plan,” an insider says. While Tsujihara offered no numbers today, it is expected that the cuts will take place globally among Warner Bros’ roughly 8,000 employees and likely will be implemented in the fourth quarter. Read the memo below:

Dear Colleagues:

Warner Bros. layoffs I wanted you to hear directly from me about our plans for the Studio. In recent days, we have started to hear rumors here at the company and to read misinformation in the press, so I’d like to set the record straight. I know that the hard work and dedication of every employee around the world is the key to Warner Bros.’ success, and I am sorry for the distraction this situation brings to the workplace.

At Warner Bros., we work with the world’s most extraordinary storytellers, and our focus has always been to provide the creative environment and financial resources they need to realize their vision. Our commitment to that won’t change. In fact, we’re investing more than ever in our film and television productions.

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Since I became CEO, I’ve been working with the Studio’s senior management team to create a plan to position Warner Bros. for future growth, maintaining our position as the industry’s leader in quality and scale—all while safeguarding our traditions and legacy. This will require us to reduce costs and reallocate resources to our high-growth businesses.

Here at Warner Bros., we are currently in a position of unparalleled strength. To maintain this position, we are constantly reviewing our global businesses to make sure we’re operating as efficiently and effectively as possible. We are doing our best to minimize staff reductions. However, and it pains me to say this, positions will be eliminated—at every level—across the Studio. In making these decisions, we will follow all applicable protocols. Your divisional and departmental leadership will share more information with you about these changes in the months ahead.

Despite the challenges we face, we need to focus on the tasks at hand, maintain the sense of excellence that has defined our company for more than 90 years, and move forward knowing that, regardless of any organizational changes, we will remain the industry’s gold standard.

Thank you, again, for your support and dedication to this company.

Warm regards