In a letter to employees today, Walt Disney said it will trim 4,000 jobs, or about 3 per cent of its 120,000-strong global workforce, in the face of a weakening US economy.
"In a slowing economy, we thought it was appropriate to do a prudent trimming of the workforce," said Disney spokesman Mr John Dreyer.
He said Disney expects to save $350 million to $400 million a year from the cuts. "Disney hopes to trim its workforce first through voluntary reductions, but would move to mandatory layoffs if needed" he said.
Disney owns the Disney movie studio, ABC and ESPN television networks, and theme parks worldwide.