Walt Disney Co. is laying off hundreds of employees as part of a cost-cutting measure, CBS News has confirmed.

"As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses while fueling the state-of-the-art creativity and innovation that consumers value and expect from Disney," a spokesperson said in an email to CBS News on Monday. "As part of this ongoing work, we have identified opportunities to operate more efficiently and are eliminating a limited number of positions today. "

Disney did not confirm the exact number of employees being dismissed, but indicated the cuts will be across several of the entertainment giant's units, including film and television marketing; TV publicity; casting and development; and corporate financial operat

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