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Bad news for Miramax:

“Walt Disney Co.-owned Miramax Films could lay off as much as 20 percent of its workforce in a series of cost-cutting measures, it was reported Friday.

“The layoffs are being weighed as Miramax’s co-founders, Harvey and Bob Weinstein, are under increasing pressure to save money at their New York-based movie company, the Los Angeles Times reported, citing people familiar with the plans.

“The Weinsteins have run through most of a $700 million annual production and marketing budget, nearly four months before the end of the company’s fiscal year on Sept. 30, The Times reported.”

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