Miramax, the Walt Disney Co.’s art house film label, will eliminate about 50 jobs leaving only about 20 people and reduce the number of films it releases each year by half.

Operations will be consolidated under the larger umbrella of Walt Disney Studios, according to a statement released Friday by Alan Bergman, president of the overall studio. Disney didn’t say how much the move would save.

The announcement comes two weeks after Disney studio chief Dick Cook said he was stepping down immediately after nearly four decades with the company.

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