Playboy Slashes Programming Budget

Playboy Enterprises will lower its annual programming and editorial budgets by approximately $4.5 million.

As part of its previously announced cost-reduction plan, the company will also cut some 30 positions, about one-half of which are currently unfilled.

Playboy said it expects to report a loss in the range of $0.10-$0.13 per share for the second quarter of 2006.