This is an incredibly sad day for hundreds of New Line Cinema employees. Because Time Warner is notifying them today and tomorrow that 450 positions will be eliminated in the reorganization to absorb the studio by Warner Bros. Some 40 to 50 employees will remain with New Line and about 40 others will be offered jobs at Warner Bros. I’m told the layoffs will be effective the end of June. An insider reveals that, among the many layoffs, the entire physical production department is being shuttered and that Kate Beyda is going to run the newly reorganized company’s physical production arm.