Disney Interactive has laid off a whopping 700 employees as it prepares for some large division-wide changes.
"These are large-scale changes as we focus not just on getting to profitability but sustained profitability and scalability... We're not exiting any businesses, and we will pursue licensing partnerships in which we retain a lot of creative input," Disney Interactive president James Pitaro told the NY Times.
It's always a sad day when people lose their jobs. Unfortunately, it's been happening rather often lately. Our thoughts go out to those affected.