The Walt Disney Co. announced plans Wednesday to cut about 4% of its entire workforce. That means layoffs for 7,000 employees.
The company's stock increased immediately after the announcement, which was expected.
Returning CEO, Bob Iger, is making a statement to his board about the company's finances moving forward.
His goal is to cut more than $5 billion in costs in part by consolidating divisions that make and distribute movies and TV shows.
Disney has actually been doing relatively well of late, with profits and revenues up, strong figures from theme parks, and more subscribers on Disney-owned streaming services such as ESPN+ and Hulu — although not Disney+. That platform lost 2.4 million subscribers in the first quarter of the fiscal year, according to the company's latest earnings report.
But profits from traditional television have dropped, and none of the streaming services are making money.
2024-12-24 10:16695 view
2024-12-24 10:132849 view
2024-12-24 10:12504 view
2024-12-24 09:27286 view
2024-12-24 08:37739 view
2024-12-24 08:19943 view
WASHINGTON (AP) — President-elect Donald Trumpsaid Wednesday that he’s picking Kari Lakeas director
Drake Bell is speaking out about his previous court case. The former Nickelodeon star recently addre
We independently selected these deals and products because we love them, and we think you might like