Disney to cut 400 jobs from TV unit
Los Angeles - Disney is to cut 400 jobs from its television unit as a cost-cutting measure to deal with the weak economy, the company has announced.
The cuts will affect all departments of the company's television group, which includes the ABC network and numerous cable channels around the world. The Disney-ABC Television Group currently employs between 6,500 and 7,000 workers. However, only 200 workers are expected to lose their jobs, with the rest of the cuts coming from not filling vacant positions.
"After months of making hard decisions across our businesses to help us adjust to a weakening economy, we're now faced with the harsh reality of having to eliminate jobs in some areas," said Anne Sweeney, the president of the Disney-ABC Television Group, in a memo to employees. "This was not an easy decision, nor one made lightly. The people affected today are our friends and colleagues, and we are doing all we can for them and their families during what we know will be a difficult transition."
The move was yet another sign of how the advertising slowdown is hitting US media hard. Just this week internet company AOL announced 700 job cuts, while the New York Times reported sharply lower profits. dpa