Dec 04, 2006 11:02 AM EST

Disney Animation Layoffs

Out of Disney comes some not so magical news. It has been confirmed that the company plans to cut 160 jobs at their Animation Facility in Burbank. This follows the news of a 20% workforce cut in the Live Action Film Division. Disney's $8 Billion purchase of Pixar and the move to longer production cycles for films are cited as the reason for such cuts. Employees will be notified later this month of their employment status.

Source: Reuters