Walt Disney Announces Mass Cuts
Walt Disney intends to cut about 250 of its employees. According to The Hollywood Reporter, layoffs will mainly be carried out in the marketing and rental departments, but the cuts will also affect production departments. The reason was a sharp decline in profits in the first quarter of 2011, which the company itself explains as piracy. and a shift in consumer preferences towards renting video content rather than buying it. The reason is also a general restructuring, which consists in the merger of the home and international distribution departments. Walt Disney intends to continue to focus on movie projects produced by its Marvel and Pixar studios , as well as the independent company DreamWorks. Note that The Topic of Article: Walt Disney Announces Mass Cuts. |
