Analysts: Disney layoffs tied to Lucasfilm, Marvel acquisitions
Walt Disney Co. has begun the process of laying off about 150 people who work at the company’s movie studio.
Analysts said that the layoffs, which were confirmed by the Burbank-based company Wednesday, are probably related to redundancies created by Disney’s recent acquisitions of Marvel Entertainment in 2009 and Lucasfilm in 2012.
“I am sure there is some overlap from those acquisitions,” said Disney analyst Harold Vogel, president of Vogel Capital Management.
The cuts, which are expected to affect the studio’s marketing and home entertainment divisions and possibly other areas, are believed to be the result of an internal corporate review initiated by Disney Chief Executive Bob Iger.
-- Daniel Miller, Los Angeles Times