Disney to Cut 200 Jobs in Film Unit Tuesday, June 7, 10:38 AM ET
Walt Disney (NYSE:
DIS) is reportedly poised to cut 5% of the workforce at its film studio business, about 200 jobs.
Bloomberg News, which first reported the cuts, said Disney is making the move as it realigns distribution and relies more on production from Marvel and DreamWorks (NASDAQ:
Positions within production, distribution, business development and other areas will be cut, Bloomberg reports, with many reductions to be made next week.
Bloomberg noted that Disney bought back distribution rights of two Marvel films from Viacom’s (VIA, VIAb) Paramount unit, including the third “Iron Man” and “Avengers.”
For MarketNewsVideo.com, I’m Sayoko Murase.
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Disney to Cut 200 Jobs in Film Unit
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