Disney looks for cost savings, ponders layoffs

[jsr]

http://www.reuters.com/article/2013/01/07/us-disney-layoffs-idUSBRE9060AH20130107

Exclusive: Disney looks for cost savings, ponders layoffs - sources
By Ronald Grover

(Reuters) - Walt Disney Co started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters, in an early sign that big companies may not be finished tightening their belts.

Disney, whose empire spans TV, film, merchandise and theme parks, is exploring cutbacks in jobs it no longer needs because of improvements in technology, one of the people said.

It is also looking at redundant operations that could be eliminated following a string of major acquisitions over the past few years, said the person.

The people did not want to be identified because Disney has not disclosed the internal review.

[Initech]

1. Why don't they cut CEO salaries?

[abelenkpe]

2. The story usually goes

Layoff workers, please shareholders, CEOs rewarded with more money.

They bought ilm, marvel and star wars. After every merger workers get laid off, stock goes up, CEOs get more money. Then the process starts again. Hoard money, merge, layoff, money flows up up and away.