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July 20, 2006

Disney to Slash 650 Jobs in Its Studio Division The Walt Disney Co. is restructuring its studio division to emphasize blockbuster franchise films over more adult fare, a move that will mean slashing 650 jobs worldwide, the company announced. The restructuring will cut Disney's film output from about 18 a year to about a dozen. Of those, about 10 will be released under the Walt Disney Pictures banner, a proven family friendly brand that includes the successful "Pirates of the Caribbean" franchise. The shift, the company explained, will allow Disney films to bolster the resources of other divisions. A hit like "Pirates of the Caribbean," for example, can spawn video games, action figures, cable TV shows and, in the case of "Pirates," give new life to an old Disney theme park attraction.

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