DISNEY EYES LAYOFFS — Reuters’s Ronald Grover: “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 … 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. …
“After years of repeated and sometimes severe cost cutting in the wake of the financial crisis, by last summer it looked as though Corporate America had trimmed all the fat and was back on the path of profits through operating growth. But news Disney is weighing cuts — on the heels of Eli Lilly and Co.'s warning last week that cost controls would drive earnings this year — could herald yet another wave of retrenchment.”
http://www.reuters.com/article/2013/01/07/us-disney-layoffs-idUSBRE9060AH20130107
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