Disney (NYSE: DIS) is handing out 200 pink slips ABC and will not fill 200 other open positions at the network, Reuters reported. Last week, the company said it was merging ABC Entertainment and ABC Studios into one unit. An ABC rep at the time told me that digital would not be affected by the combo. It's not clear where the job cuts would come from and if it would touch the digital operations. The reason for the cuts, of course, is due to the down ad market. The layoffs represent about 5 percent of Disney's 6,500 to 7,000 total employees. Separately, another Disney subsidiary, ESPN, said that it will shed 200 jobs from its 5,700-member global workforce.
By David Kaplan