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Disney overhauls troubled interactive unit, lays off 700

07
Mar
2014

By Ronald Grover and Malathi Nayak LOS ANGELES/SAN FRANCISCO (Reuters) – Walt Disney overhauled its struggling interactive division in a sweeping reorganization that will reduce the number of video games it develops and alter its advertising strategy to focus more on the fast-changing mobile market. As part of the revamp, Disney will lay off 700 employees, roughly one-quarter of the interactive division, according to a person with knowledge of the layoffs. A Disney spokeswoman would not confirm the number. Disneys games and online division has for years been a persistent money loser and a small but significant drag on a corporate empire that spans movie-making and television to cable network ESPN, theme parks and cruise lines.

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