Disney cutting 7,000 jobs

Sunday, 09 Feb, 2023 0

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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Ray Monty



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