LONDON - Disney has begun to lay off 1,000 staff as part of its plan to save between $350m (£253.5m) and $400m (£289.7m) in response to the weakened advertising market.
Already, 3,000 staff have taken voluntary redundancy, but the group needs to lose 4,000 or 3% of its 120,000-strong workforce.
The losses will be felt throughout the company's global operations but Walt Disney World in Florida is expected to be affected the most where around 1,200 jobs will be axed.
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