Disney plans layoffs

Walt Disney Co started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters, in an early sign that big companies may not be finished tightening their belts.

Disney, whose empire spans TV, film, merchandise and theme parks, is exploring cutbacks in jobs it no longer needs because of improvements in technology, one of the people said.

It is also looking at redundant operations that could be eliminated following a string of major acquisitions over the past few years, said the person. The people did not want to be identified because Disney has not disclosed the internal review. Read more >>