Report: Disney Cuts to Affect 150 Jobs8 Apr, 2013 By: Erik Gruenwedel
Previously reported job cuts at Walt Disney Studios could occur by April 10 and affect about 150 positions.
The cuts, which seek to eliminate duplicative positions and streamline internal operations, are across the board at numerous studio divisions, including music, animation, stage and home entertainment, according to Deadline.com, which cited sources familiar with the situation.
The restructuring, which was mandated last year by CEO Bob Iger and CFO Jay Rasulo, could include another round of layoffs later this year.
Disney April 3 said it would shutter LucasArts, the 30-year-old video game publishing unit of Lucasfilm and creator of the Star Wars 1313 game, reportedly affecting 150 jobs. Disney assumed control of LucasArts last year with the $4 billion acquisition of Lucasfilm from George Lucas.
Walt Disney Studios saw a 43% decline in operating income to $234 million in the first quarter (ended Dec. 31).
Notable factors for the decline were decreases in home entertainment and theatrical revenue, partially offset by subscription video-on-demand distribution revenue, including its recent license deal with Netflix.
Disney reports second-quarter (ended March 31) results May 7.
A spokesperson from Disney corporate was not immediately available for comment.