April 10 Walt Disney Co on Wednesday
confirmed the company is laying off employees in its movie
studio division, a cost-cutting step after a review of the
In a brief statement, Disney said it "made the difficult
decision to reduce our staffing levels" in several studio
divisions. The move is "part of an ongoing review to ensure that
the studios' operational structure and economics align with the
demands of the current marketplace," the company said.
About 150 employees, less than 5 percent of the studio's
staff, will lose their jobs, a source with knowledge of the
decision said. The bulk of the cuts are in the home
entertainment, marketing and technology divisions and include
fewer than 10 people in the animation unit.
Reuters reported on April 4 that Disney expected to begin
layoffs in the studio in the latest cost-reduction step to
emerge from a company-wide review.