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Exclusive: Disney looks for cost savings, ponders layoffs - sources

Walt Disney Co , which reported record earnings in November, 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.Disney, whose empire spans TV, film, merchandise and theme parks, is exploring cutbacks in jobs no longer needed because of improvements in technology, one of the people said.It is also looking at redundant operations that could be eliminated after a string of major acquisitions over the past few years, said the person, who did not want to be identified because Disney has not disclosed the internal review.Executives warned in November that the rising cost of sports rights and moribund home video sales will dampen growth."We are constantly looking at eliminating redundancies and creating greater efficiencies, especially with the rapid rise in new technology," said Disney spokeswoman Zenia Mucha.In terms of profit margin, Disney's studio is the least profitable ...

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  1. American Electric 4Q Net Down 26% On Taxes, Refund

    Naureen S. MalikAmerican Electric Power Co.'s (AEP) fourth-quarter profit dropped 26% amid higher taxes and a required refund to customers, but revenue rose on a con...

  2. AEP Profit Slides in 4Q on Utility Charge

    Hurt by a mandatory refund in Ohio, American Electric Power (NYSE:AEP) revealed on Friday a narrowed fourth-quarter profit, however the power generator still reaffir...

  3. AEP CEO on Protecting its Dividend

    AEP CEO Michael Morris discusses why changes in the tax policy would hurt his customers and business.

  4. Investing in Electricity

    American Electric Power CEO Michael Morris on the company's investment in transmission.

  5. AEP CEO on the Cost of Clean Air

    FBN Exclusive: American Electric Power CEO Mike Morris weighs in on President Obama's push for cap and trade limits on carbon emissions.

  6. Canary in a Columbus Coalmine

    April 24, 2009 04:45 PM UTC by Liz ClamanCanary in a Columbus CoalmineFolks, I’m a greenie since Day 1.   Growing up in California, my dad used to put water-displaci...

  7. CEO on Why U.S. Needs a Global Warming Plan

    Green Coal

  8. Powering America

    The need to expand renewable energy.

  1. Kentucky State Rep.: Coal Storm Hurting State Economy

    Kentucky state representative Rocky Adkins on the impact of coal regulation on jobs and the economy.

  2. Despite Some Reluctance, Natural Gas Making Impact On Power Cos

    HOUSTON--Many in the U.S. power business are still skittish about the oil industry's promise of abundant, cheap natural gas for the foreseeable future. But some exec...

  3. American Electric Power CEO on Regulations’ Impact on Jobs

    American Electric Power CEO Michael Morris on the negative impact of increased regulations.

  4. Morris: Electric Cars Will Create Job Growth

    Michael Morris , chairman and CEO of American Electric Power Company, weighs in on today's announcement of John Bryson's nomination for U.S. Commerce Secretary, gas prices and electric vehicles.

  5. AEP CEO on Nuclear Energy

    American Electric Power CEO Michael Morris on Japan's impact on the nuclear energy industry.

  6. American Electric CEO: Government Intervention Holding Us Back

    Michael Morris , American Electric Power chairman & CEO, on engineering projects and how bureaucracy is proving to be a challenge.

  7. AEP CEO on Obama's Clean-Energy Push

    American Electric Power CEO Michael Morris weighs in on President Obama's plan to promote green energy.

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