The Wall Street JournalThe Wall Street Journal

Disney plans to cut 7,000 Jobs, $5.5 billion in costs

By Robbie Whelan

08 Feb 2023 · 5 min read

Editor's Note

Disney plans to reorganize divisions and lay off a large chunk of its staff. Returning CEO Bob Iger's major concern is making Disney's streaming business profitable, The Wall Street Journal reports.

Walt Disney Co. said it plans to trim 7,000 jobs and eliminate $5.5 billion in costs as part of a major corporate reorganization that gives more power to the company’s content executives and puts a greater emphasis on sports media at the company.

The announcement of layoffs and cuts come in the first earnings report since Robert Iger returned to the role of chief executive in November after Disney’s board abruptly dismissed previous CEO Bob Chapek, who led the company for less than three years.

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