LOS ANGELES — The Walt Disney Co. says it has cut 1,900 positions at its U.S. theme parks due to the slumping economy.
Some 1,200 people were laid off and 700 open positions will be left unfilled.
Disney spokeswoman Tasia Filippatos said Friday the cuts "reflect today’s economic realities.”
The cuts were part of a reorganization announced in February. Among the cuts were 50 executives who accepted a voluntary buyout that was offered to 600 people.
The vast majority of the cuts came from managerial and other salaried staff, not from employees in the parks who interact with park visitors.
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Reports: MediaNews delays debt payment
DENVER — Two newspapers are reporting that Denver-based MediaNews Group Inc. has reached an agreement with its lenders and bondholders to delay a principal payment on its debt.
The Wall Street Journal and The New York Times, citing unidentified people, reported the company reached an agreement to pay only the interest on a payment due March 31 while it renegotiates with lenders.
MediaNews President Joseph Lodovic did not immediately return a phone message Friday from the Associated Press.
MediaNews newspapers include The Denver Post, San Jose Mercury News and Contra Costa Times. The company, which is struggling with heavy debt and falling advertising revenue, has sought concessions from unions to reduce labor costs.
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Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
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