Disney , to Eliminate , Thousands of Jobs .
Next week, Walt Disney Co.
Plans to cut thousands of jobs, impacting about 15% of its workforce.
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'Bloomberg' reports that sources familiar with the plan say that the cuts will span Disney's TV, film, theme park and corporate teams. 'Bloomberg' reports that sources familiar with the plan say that the cuts will span Disney's TV, film, theme park and corporate teams. According to the unnamed sources, affected employees will be notified as soon as April 24.
'Bloomberg' reports that amid a broader decline in stocks, shares in Disney were down 0.6% at $100.35 in pre-market trading on April 18.
In February, the company announced plans to eliminate 7,000 of its over 220,000 employees.
According to Disney, the cuts are part of the company's overall strategy to reduce annual costs by $5.5 billion.
According to Disney, the cuts are part of the company's overall strategy to reduce annual costs by $5.5 billion.
In November, former Disney CEO Bob Iger returned to helm the company after a $1.47 billion quarterly loss led to the ousting of his successor, Bob Chapek.
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In November, former Disney CEO Bob Iger returned to helm the company after a $1.47 billion quarterly loss led to the ousting of his successor, Bob Chapek.
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Part of Disney CEO Bob Iger's return has included restructuring and restoring authority to creative executives.
Iger has also elevated key lieutenants, including the co-chairman of Disney Entertainment, Dana Walden.
Iger has also elevated key lieutenants, including the co-chairman of Disney Entertainment, Dana Walden.
'Bloomberg' reports that Disney has looked to cut its commitment to general entertainment while it focuses on franchises and recognized brands.
'Bloomberg' reports that Disney has looked to cut its commitment to general entertainment while it focuses on franchises and recognized brands
