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Disney cutting 7,000 jobs
Friday, 09 Feb, 2023
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Walt Disney Co has said it will slash about 7,000 jobs despite revenue growth at Disney theme parks.
The workforce downsizing is part of a ‘significant transformation’ CEO Bob Iger said.
It hopes to make cost savings of $5.5 billion.
While Disney theme parks did well, the video streaming and movie business struggled.
The job cuts represent about 3% of the global workforce
Overall revenue was up to $23.51 billion .
It comes at an uncertain time for its Florida theme parks.
As part of his anti-woke crusade, Florida Gov. Ron DeSantis has pushed to dissolve Disney’s Reedy Creek tax district status.
It is unclear how it would impact the business.
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