The Disney cull begins: First wave of 4,000 employees set to be laid off within WEEKS as part of CEO Bob Iger's $5.5B spending cuts
-A new report indicates Disney plans to fire 4,000 employees by April
-The company had previously announced 7,000 job cuts
-CEO Bob Iger is working to save the company an estimated $5.5 billion
Executives at The Walt Disney are reportedly planning to cut 4,000 jobs in the next two weeks - much sooner than expected - as CEO Bob Iger works to save the company some $5.5 billion.
Iger had previously announced 7,000 layoffs throughout the company after he took back over as CEO in November.
The cuts come after the company reported profits of $23.51 billion, which exceeded analysts' expectations of $23.44 billion.
According to McCarthy, a portion of the cuts will also come from lessening spending for TV and movies.
The rest of the money will come from marketing and other non-content areas.
Last month, Iger also announced that The Walt Disney Company would restructure into three divisions: Entertainment, ESPN, and Parks, Experiences and Products.
It has been reported that the majority of the cuts will come from the entertainment and ESPN divisions.
-The company had previously announced 7,000 job cuts
-CEO Bob Iger is working to save the company an estimated $5.5 billion
Executives at The Walt Disney are reportedly planning to cut 4,000 jobs in the next two weeks - much sooner than expected - as CEO Bob Iger works to save the company some $5.5 billion.
Iger had previously announced 7,000 layoffs throughout the company after he took back over as CEO in November.
The cuts come after the company reported profits of $23.51 billion, which exceeded analysts' expectations of $23.44 billion.
According to McCarthy, a portion of the cuts will also come from lessening spending for TV and movies.
The rest of the money will come from marketing and other non-content areas.
Last month, Iger also announced that The Walt Disney Company would restructure into three divisions: Entertainment, ESPN, and Parks, Experiences and Products.
It has been reported that the majority of the cuts will come from the entertainment and ESPN divisions.
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Expendabiggles : Only so many slices of the streaming pie. Disney would done better if they had just bought Netflix but seeing as how they destroy everything they buy with politics, its prob a good thing they didn’t, even tho Netflix is hurting itself with politics on its own but no company is as woke as disney and I believe they will go broke.