Walt Disney Co will cut about 200 positions at its movie studio unit, according to a person familiar with the matter, as it reduces its focus on home entertainment distribution of DVDs.
The cuts, which make up just under 5 percent of its workforce, are expected to be announced internally next week, according to the person, who could not be named because the decision has not been made public.
The film studio has been realigning its distribution over the last 18 months and is increasing its input of movies from Marvel and Steven Spielberg’s DreamWorks Studios. DVD sales have been falling in the United States in the last year as more consumers use on-demand cable TV services and other digital outlets to watch movies at home. News of the job cuts was first reported by Bloomberg.—Reuters