Jeffrey Katzenberg and other Motion Picture & Television Fund officials just revealed plans to close the acute-care hospital and long-term care residence at the home in Woodland Hills. About 100 patients in the long-term nursing facility will be moved elsewhere, and 300 layoffs will result. But the home says the closure will not affect cottage residences and other healthcare and recreational services. "Although we are in good shape today, the acute-care hospital and long-term care facility are generating operating deficits that could bankrupt MPTF in a few years," Katzenberg, chairman of the fund foundation's board, said in a statement. The Motion Picture & Television Fund was founded in 1921 by Charlie Chaplin, Mary Pickford, Douglas Fairbanks and D.W. Griffith and the home in Woodland Hills is the safety net for a lot of older Hollywood veterans.