Disney looking at cost cutting, possible layoffs, report says

The Walt Disney Company is examining cost cutting measures which could include layoffs at its studios, Reuters is reporting.

During the past few years Disney has been on a spending spree, purchasing Marvel and LucasFilm as well as opening Cars Land in Disneyland, revamping Fantasyland at Walt Disney World and putting a lot of money into RFID technology for use at the theme parks.

"Disney, whose empire spans TV, film, merchandise and theme parks, is exploring cutbacks in jobs no longer needed because of improvements in technology and redundant operations after the acquisitions, three sources have told Reuters.

Disney's studio is the least profitable of the entertainment conglomerate's four major product divisions and the interactive unit has lost money over the last three years.