Disney Cutting Workforce
Posted by: Mark Plante on: February 09, 2023
Disney’s CEO Bob Iger announced during a live earnings call on Wednesday, February 8, 2023 that even though the Walt Disney Company exceeded Wall Streets expectations, Disney would experience a workforce reduction of 7,000 jobs.
This massive workforce reduction is an attempt to cut costs for the House of Mouse and an attempt to save $5.5 billion company-wide.
Although it was not announced which departments would take the brunt of the layoffs, it is widely thought that streaming entertainment is most-likely.
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