New Delhi, Aug. 26 -- The Walt Disney Company has expanded its cost-cutting efforts by offering voluntary early retirement packages to senior leaders across its corporate, entertainment and sports divisions. Known as the Voluntary Early Retirement Offer (VERO), the programme was outlined in an internal communication circulated by Disney's senior executive vice president and chief people officer, Sonia Coleman, Fox Business reported.

The initiative allows eligible executives to leave the company voluntarily while receiving enhanced benefits in recognition of their years of service.

Executives who accept the offer will receive a range of benefits as part of the package. These include separation compensation in the form of severance pay, c...