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Walt Disney Co. has offered voluntary buyout packages to about 600 executives at its domestic theme park and resort divisions as it seeks to trim costs in the face of a worsening economy. Directors, vice presidents and other senior executives who work in Disney's two theme park locations in Anaheim and Orlando, Fla.; on its two cruise ships; at Disney's corporate headquarters in Burbank; and at Walt Disney Imagineering have until Feb. 6 to decide whether to take the voluntary separations. The company said that if it did not get enough volunteers it would implement involuntary layoffs with "a lesser severance package."
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