Disney to Cut Jobs, Film Output

HOLLYWOOD, July 13: According to wire reports, The Walt
Disney Company is planning a significant work force reduction and is set to
slash its annual feature film output from 18 to 8.

Further, according to Daily Variety, the bulk of the releases will be Disney branded. Analyst
David Miller, the managing director of the brokerage firm Sanders Morris Harris
Group, told the Associated Press: "Most of the street was onto the fact
that Disney-branded film returns were greater.”

The news comes amid the tremendous box office success of
Disney’s latest release, Pirates of the Caribbean: Dead Man's Chest.