Disney To Cut 7,000 Jobs As Part Of Multibillion Cost-Cut
Terminating 7 thousand jobs represents nearly 3% of its global workforce.
Disney announced they will be conducting job terminations from its global workforce.
As of October first, Disney had nearly 220 thousand workers and 166 thousand of them were employed in the United States. Terminating 7 thousand jobs represents nearly 3% of its global workforce.
CEO, Bob Iger, said the job cuts are necessary to “address challenges” the company is facing. He shared that he has respect and appreciation for the dedication of their employees worldwide and this decision was not taken lightly.
The terminations come as a part of a multi-billion-dollar cost-cutting initiative aimed at streamlining the company’s operations in a period of uncertainty.