Disney’s Games and Online Division / 700 Layoffs

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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.

Disney’s 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.

Chosen excerpts by Job Market Monitor. Read the whole story at Disney overhauls troubled interactive unit, lays off 700 | Reuters.