Disney to issue 650 pink slips to cushion Pixar purchase

650 Disney Employees around the world will get the boot. We can only imagine the beefed up security outside Bob Iger's office leading up to this. The Walt Disney Co. is restructuring its studio division to emphasize blockbuster franchise films over more adult fare, a move that will mean slashing 650 jobs worldwide, the company announced Tuesday. Among those who will lose their jobs is Disney's longtime head of live-action production, Nina Jacobsen. The restructuring will cut Disney's output from about 18 films a year to about a dozen. Of those, about 10 will be released under the Walt Disney Pictures banner, a proven family-friendly brand that includes the successful "Pirates of the Caribbean" franchise. Disney's Touchstone label, which is responsible for more esoteric fare by artists like Joel and Ethan Coen of "Fargo" fame, will be cut back to only two or three releases a year. Recent Touchstone films have included the box-office flops "The Alamo" and "The Ladykillers." more...