Thursday, February 9, 2023

Disney Transformation to Result in 7,000 Layoffs

After two tumultuous years and reporting quarterly results that beat expectations, the Walt Disney Co. is embarking on a "significant transformation" under returning CEO Bob Iger's leadership - one that will cut 3% of its global staff. 

This restructuring effort aims to save $5.5 billion across the company; by October 1st 2022 it had 220,000 people employed around the world with 166,000 working in America and 54,000 internationally. 

But now, 7,000 jobs must be sacrificed for improvement plans to succeed at streaming services such as ESPN+, Hulu Live TV Plus other products from Disney+...

Read more HERE

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