Disney to cut 7,000 jobs
Disney announced that it will restructure into three segments, eliminate thousands of positions, and save expenses.
Disney is laying off 7,000 employees, or approximately 3% of the 220,000 or so people it employed at the time.
There are roughly 166,000 workers in the U.S. and about 54,000 workers internationally.
CEO Iger said,
“we will take a very hard look at the cost of everything we make across television and film,”
Disney also disclosed cost-cutting measures totaling $5.5 billion, of which $3 billion will come from content.