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Thursday, Feb 29, 2024

Disney Confirms Job Cuts

The Walt Disney Co. confirmed Wednesday previous media reports about layoffs at the Burbank entertainment and media conglomerate. “As part of an ongoing review to ensure that the studios’ operational structure and economics align with the demands of the current marketplace, we have made the difficult decision to reduce our staffing levels in several divisions of the studio,” the company said in a prepared statement. Disney did not state what divisions the layoffs would affect but reports by Reuters and other media outlets said cuts would be made to staffs in the marketing, home video and animation units. The reports of the layoffs followed the announcement by Disney it would close its LucasArts video game division in San Francisco, which will result in the loss of more than 100 jobs. Disney acquired the game division in October as part of its $4 billion purchase of LucasFilms and its “Star Wars” franchise from director and producer George Lucas. Shares in Disney closed up 97 cents, or 1.6 percent to $60.11 on the New York Stock Exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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