07/18/2013 08:12 am ET Updated Sep 17, 2013

Disney Phasing Out Lavish Executive Perks

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Walt Disney Co. (DIS) is eliminating perks including executive car allowances as the world's biggest entertainment company looks to further boost profitability.

"We're phasing them out," Chief Financial Officer Jay Rasulo said of the car allowances in an interview at last week's Allen & Co. conference in Sun Valley, Idaho.

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