LOS ANGELES, Feb 18 (Reuters) – Walt Disney Co said on Wednesday it will streamline some behind-the-scenes operations, including menu planning and ride design, at its two U.S. theme parks to try to offset the effects of the global economic downturn. (more…)
(SK Note: You can access the report directly here)
By Gina Keating
LOS ANGELES (Reuters) – Walt Disney Co reported a sharply lower-than-expected quarterly profit as the global downturn hurt its TV advertising, DVD sales and theme parks, pushing its shares 9 percent lower. (more…)
From the Orlando Business Journal:
Universal Orlando laid off about 70 workers — less than 1 percent of its work force — in an effort to adapt to slowing business conditions.
Universal spokesman Tom Schroder said the layoffs took place Jan.22.
“This has not been easy for us,” Schroder said. “It’s taken much thought and review. We are doing everything possible to ease the process for those affected and ease their transition.”
Most were management workers. Universal didn’t provide a specific number of positions, nor did comment on severance for the workers.
Despite a relatively strong performance in ad revenue in 2008 versus most other magazines, AdAge is reporting that Disney’s Wondertime magazine has become the next victim of the economic climate. The March issue will be the last and it’s not clear at this time how many jobs will be lost as some content is diverted to other like-properties.
LOS ANGELES, Jan 22 (Reuters) – Walt Disney Co (DIS.N) said on Thursday it would combine two divisions, ABC Entertainment and ABC Studios.
A spokesman said no job cuts would be involved. (more…)
MarketWatch is reporting on a Wall Street Journal article that talks about Disney offering buyouts to nearly 600 executives in the domestic resorts and park division with more than half in Orlando.