Disney Interactive To Cut 700 Jobs In Restructuring Effort

GLENDALE (CBSLA.com) — Disney Interactive, a video game and digital media subsidiary of The Walt Disney Co., is eliminating about 700 jobs, the company confirmed Thursday.

"Disney Interactive has consolidated several lines of business as part of an effort to focus the division on a streamlined suite of high quality digital products. As a result of this restructuring, we have undergone a reduction in workforce.  These actions were difficult but necessary given our long-term strategy focused on sustainable profitability and innovation,"a Disney spokeperson said in a statement.

As part of the move, which reportedly cuts the division's workforce by about 26 percent, offices will be closed in Chicago, New Jersey, Colorado, South Korea and India, according to the Los Angeles Times.

Founded in 2008, the Glendale-based firm is behind the hit mobile franchise "Where's My Water?" and multi-platform video game Disney Infinity, as well as Club Penguin, a popular children's virtual hub.

Disney Interactive has a staff of about 3,000 employees, according to Variety.