Report: Disney Mulls Layoffs

BURBANK, October 31:
Bracing for further fallout from the economic downturn, senior executives from
The Walt Disney Company have been meeting this week to discuss cost-cutting
measures, the Los Angeles Times
reports, including possible job cuts.

Citing people familiar
with the discussions, the Times
reported that no decisions have been made regarding layoffs, but that
reductions are being considered across the company. The newspaper asserts that Anne Sweeney, the co-chair of Disney Media Networks and president of the
Disney-ABC Television Group, has asked senior management to suggest possible
cuts, should the economic climate deteriorate further.

Media companies are
bracing for the worst as the ad market takes a battering. NBC Universal
recently revealed that it would cut its budget by 3 percent—or $500
million. CBS Corporation, meanwhile, took a $14 billion write-down, resulting
in a third-quarter loss of $12.5 billion.

—By
Mansha Daswani