According to the Hollywood trades, Disney will be laying off employees in the next two weeks. The layoffs will come primarily from marketing and home video at the studio, with a smaller number coming from animation, says Reuters. The movie was the result of an internal audit ordered by company CEO Bob Iger, who is looking to save money to boost profits.
On Wednesday, Disney shut down LucasArts and laid off 150 people, noting that the video-game developer will move to a licensing model as a result of Disney’s acquisition of LucasFilm.
Last month, Iger told the press that Disney had a record year in 2012 and that the company had a prosperous start in fiscal 2013.
“Our ongoing success is driven by our long-term strategy, the strength of our brands and businesses, and our high quality family entertainment,” he noted.
Last month at Disney’s meeting for shareholders, Iger pointed out that Disney stock was closing at an all-time high. In fiscal 2012, Iger was paid $40 million in total compensation, up 20 percent over the year prior.