The Walt Disney Company Announces 7,000 Layoffs Amid Restructuring
During today’s earning call for The Walt Disney Company, CEO, Bob Iger announced that he has set up a plan to restructure the company. Unfortunately, that restructuring will come at the expense of 7,000 layoffs of current employees.
Photo: Chip Somodevilla/Getty Images
Per Iger:
In that regard we are targeting $5.5 billion in cost savings across the company. First, reductions to our noncontent costs total roughly $2.5 billion not adjusted for inflation. $1 billion in savings is already underway and Christine [McCarthy] will provide more details. But in general, the savings will come from reductions and as GNA and other operating costs across the company.
(Photo by Randy Shropshire/Getty Images for Vox Media)
To help achieve this we will be reducing our workforce by approximately 7000 jobs, while this is necessary to address the challenges we are facing today, I do not make this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees worldwide and mindful of the personal impact of these changes.
At this time, it is unknown which employees will be impacted by these layoffs by The Walt Disney Company.
Photo: The Walt Disney Company
Make sure to keep following along with us here at MickeyBlog as we continue to cover these layoffs along with other news from today’s The Walt Disney Company earnings call.
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