The Quentin MitchellWalt Disney Co. announced plans Wednesday to cut about 4% of its entire workforce. That means layoffs for 7,000 employees.
The company's stock increased immediately after the announcement, which was expected.
Returning CEO, Bob Iger, is making a statement to his board about the company's finances moving forward.
His goal is to cut more than $5 billion in costs in part by consolidating divisions that make and distribute movies and TV shows.
Disney has actually been doing relatively well of late, with profits and revenues up, strong figures from theme parks, and more subscribers on Disney-owned streaming services such as ESPN+ and Hulu — although not Disney+. That platform lost 2.4 million subscribers in the first quarter of the fiscal year, according to the company's latest earnings report.
But profits from traditional television have dropped, and none of the streaming services are making money.
2025-05-02 10:052245 view
2025-05-02 09:33467 view
2025-05-02 08:56236 view
2025-05-02 08:402672 view
2025-05-02 08:231026 view
2025-05-02 08:072923 view
The 2024 NFL regular season is entering the final four weeks of action, and teams are beginning to s
Three Tribal communities in Alaska and Washington that have been severely impacted by the effects of
Content warning: This story discusses suicide.About a decade ago, a teenage Madison Beer sent some n
