Disney-ABC TV Slashes 400 Jobs (DIS)

This morning, Disney-ABC Television Group became the latest media conglomerate to announce major job cuts. The group plans to eliminate 400 jobs or 4% of its employees.

According to Variety, the cuts will affect all divisions and high-ranking execs:

[Disney] will cut about 200 staffers and eliminating another 200 posts that have already been frozen for months. The ABC News division has laid off about 40 staffers and will not fill any of its 60 open positions, insiders said.

The memo sent to staffers by Disney-ABC TV Group president Anne Sweeney is below, courtesy of Deadline Hollywood Daily.

Sent: Thursday, January 29, 2009 10:21 AM
Subject: Business Update


After months of making hard decisions across our businesses to help us adjust to a weakening economy, we’re now faced with the harsh reality of having to eliminate jobs in some areas.

This was not an easy decision, nor one made lightly. The people affected today are our friends and colleagues, and we are doing all we can for them and their families during what we know will be a difficult transition.

Change is never easy, and becomes even harder to embrace during times of turbulence and uncertainty. With that in mind, I’ve asked each business leader to reach out to their group with more information on this announcement as soon as possible.

I realise this is an extremely difficult day for everyone in our group. But despite the challenges before us, I remain confident and optimistic about our future, because you really are the best team in the business.


See Also: Steve Jobs Healthy Enough To Remain On Disney’s Board (AAPL)
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