October 2, 2009

Disney cuts 50 Miramax jobs

Walt Disney Studios has restructured Miramax Films, eliminating 50 jobs and cutting its art house label's annual release slate in half.

This restructuring maximizes operating efficiencies and provides significant cost savings, while allowing Miramax to focus on its greatest strength: the creation of high-quality entertainment, the Los Angeles Times Friday quoted Disney Studios President Alan Bergman as saying.

As part of the new plan, Miramax's marketing, distribution, operations and administrative support functions reportedly will be absorbed by the parent studio in Burbank, Calif., while Miramax President Daniel Battsek will continue to supervise development, production, and business and legal affairs out of the division's New York offices.

Miramax is now expected to release three films a year instead of six or eight, the Times said.