MUMBAI: US media conglomerate Disney is reorganising its film division. The movie studio is looking to axe 650 employees in an effort to trim $90 to $100 million from its annual bottom line.

One of the first people to lose their jobs is Nina Jacobson who was the head of the Walt Disney Motion Pictures Group.

Media reports indicate that Disney Studio chairman Dick Cook had a conversation with Jacobson. Jacobson's role will be taken up by Oren Aviv who was the marketing and chief creative officer.

In a statement Cook says, "Disney is the number one name in filmed entertainment around the world. It's the name on the door, it's what we do best, and when we do it right, not only do moviegoers of all ages benefit from the finest in quality entertainment, but it lifts the entire company as well. The depth and breadth of great Disney movies range from Pirates of the Caribbean to Cars to The Chronicles of Narnia and we look to expand our global reach even more. Cutbacks such as these are difficult on so many levels, and we will do everything in our power to make the transition as smooth as possible."

As had been reported earlier by indiantelevision.com that Disney is set to cut the number of films made each year from 18 to eight. What is interesting is that Jacobson had argued with M Night Shyamalan about the script for his new film Lady in the Water. The tepid reviews that the film is getting indicate that her concerns were not misplaced. The relationship between Shyamalan and Disney came to an end as a result of the dispute.