Disney to Reduce Workforce

Walt Disney Studios is expected to layoff up to 5 percent (or 250 jobs) of its global workforce as early as next week, sources told Los Angles Times. The majority of the dismissals will reportedly be located in Burbank, California. Compared to last year's first quarter figures, Disney's home entertainment revenue dropped 14 percent. Decreasing DVD sales have affected other studios and also resulted in layoffs. Sony Pictures let go 450 workers last year while Deadline reported that Paramount Picturers and Lionsgate are both expected to reduce costs by dismissing employees.