Report: Disney Layoffs Expected
Jun. 08, 2001
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ANAHEIM, Calif. (AP) _ Walt Disney Co. is expected to lay off 1,000 workers, with most of the terminations to occur at theme parks in Anaheim and Orlando, and its feature animation department, the Los Angeles Times reported Friday.
Layoffs will include about 24 employees in the Disney-owned ABC network's news operation and another 25 people in the movie, music, home entertainment and TV animation divisions, the Times said.
About 3,000 employees accepted the company's voluntary separation program as part of the company's plan to cut 4,000 jobs companywide, Disney spokesman John Dreyer told the newspaper.
A message left for Dreyer before business hours Friday was not immediately returned.
The 4,000 positions represent nearly 3 percent of the company's 120,000 workers. The cuts are expected to save up to $400 million a year.
In early trading on the New York Stock Exchange, Disney shares were down 11 cents at $32.04.
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