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  • singhlion2001 singhlion2001 Apr 4, 2013 9:49 PM Flag

    FRAUD LIES ON ECONOMICS DATA & REALITY IS:Exclusive: Disney to begin layoffs in studio, consumer products - source

    By Ronald Grover
    LOS ANGELES (Reuters) - Walt Disney Co expects to begin layoffs at its studio and consumer product divisions within the next two weeks, a source with knowledge of the matter told Reuters, in the latest cost-reduction step to emerge from a company-wide review.
    The studio job cuts will center on the marketing and home video units and include a small number from the animation wing, according to the source, who spoke on condition of anonymity because the plans had not been made public.
    It is unknown how many jobs will be lost at either division.
    On April 3, Disney began layoffs at the 30-year-old LucasArts games studio it inherited with the acquisition of George Lucas' film company last year, as it focuses on licensing its "Star Wars" brand externally.
    A Disney spokeswoman had no comment.
    (Reporting By Ronald Grover; Editing by Edwin Chan and Ryan Woo)

    Sentiment: Strong Sell

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