Disney offers buyouts to 600 executives in theme park division

Posted | Contributed by Jeff

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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