DISNEY PARES NET OPERATION.Byline: Jesse Hiestand Staff Writer BURBANK - The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. cut 135 jobs at its Internet division Monday, less than a month after the media giant shed the failed portal Go.com and 400 other tech jobs. An undisclosed number of those laid off Monday worked in North Hollywood, handling technical services for Disney's vast Internet operation, which include some of the Web's most popular sites like ESPN.com and Disney.com. The other layoffs were in Seattle and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , where Disney is closing an office of ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. .com to consolidate that site at its headquarters in Burbank. The moves are intended to bring Disney's Internet business to profitability in less than two years, which analysts said is likely. ``This is what you have to do to garner a more streamlined operation,'' said David Miller David Miller could refer to any of the following:
Disney's Internet Group will still employ about 1,500 people. Until late January, Disney had treated this division as a business separate from its other ventures like theme parks and movies. The Internet Group's stock was traded separately, but mounting losses forced the company to buy back all shares and fold the division into its other businesses. For that, Disney plans to take a $790 million charge in the second fiscal quarter. First-quarter profits were severely dragged down by a $253 million losses at the Internet Group and new accounting changes. Still, Disney has some of the strongest brands on the Web, leading division chairman Steve Bornstein Steve Bornstein is currently the President and CEO of the NFL Network and is also the NFL's Executive-VP of Media. Prior to joining the NFL, Bornstein was the Chairman of ESPN, and also served as president of ABC. to tell Wall Street analysts recently that profitability will be reached in 18 months or less. That may depend in large part on if the advertising market rebounds after plunging plunge v. plunged, plung·ing, plung·es v.tr. 1. To thrust or throw forcefully into a substance or place: with the economy and hurting media companies of all sorts, Miller said. Disney executives will gauge the effect of these recent cuts before trimming staff any further, he said. ``We sincerely regret the impact to these employees, each of whom made a terrific contribution to our business,'' Bornstein said in a statement. Disney Internet spokeswoman Susan Murdy said the employees were notified Monday, and while most had to leave immediately, some will stay on for a 30-day transition period. Most of the jobs were in tech services, but some included editorial jobs at ABCNews.com and ABC.com. The number of employees cut in each area was not released. ``The news operation just simply needs to operate with a leaner team,'' Murdy said. |
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