Posted by Charles on March 02, 2000 at 01:39:27:
I got this off of AWN.
On Tuesday, February 22, the Disney Corporation held their annual shareholders meeting. Here's what Mike had to say.
He reported that Disney has implemented cost cutting measures on the film side with a smaller slate, lower production budgets, a consolidation of operations, fewer talent deals and the trimming of overhead.
The studio cut costs by $500 million in the past few years. The company expects that its cost-cutting measures will save it about $500 million per year starting in 2001.
The shareholders then re-elected 10 company directors and rejected a proposal to reduce executive salaries and discontinue bonuses.
Well, you can't fight the will of the shareholders all of you Disney artists, but you can show up on April 3rd.
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