Like a drunk starlet who just flipped her Mercedes on Sunset, the celebrity tabloids are hurting. Last week we told you about layoffs at Star — now there's a bloodbath at OK!.

Picking up where we left off about axings at the American Media title, the Post reports the publisher's debt might finally do it in. "Given the continued weakness of the credit markets, there can be no assurance that the company can refinance its existing notes or obtain the additional capital necessary to satisfy its short-term cash needs on satisfactory terms."

And at OK!, the struggling entrant from Richard Desmond, general manager Kent Brownridge is overseeing a "big bloodbath," according to a source. We're told at least seven people were fired yesterday. "Everyone assumes it's a combination of Kent Brownridge and Susan Toepfer's master plan." Much of the photo department has already been decimated, we're told, and now the art department is looking ripe.