The Walt Disney Co. said Wednesday it will cut about 7,000 jobs as part of a 'significant transformation' announced by CEO Bob Iger. The job cuts amount to about 3% of the entertainment’s global workforce.
FILE - In this Jan. 9, 2019 photo, guests watch a show near a statue of Walt Disney and Micky Mouse in front of the Cinderella Castle at the Magic Kingdom at Walt Disney World in Lake Buena Vista, Fla. The Walt Disney Company reports their corporate results on Wednesday, Feb. 8, 2023. .
LOS ANGELES — The Walt Disney Co. said Wednesday it will cut about 7,000 jobs as part of a “significant transformation” announced by CEO Bob Iger. Iger returned as CEO in November following a challenging two-year tenure by his handpicked successor, Bob Chapek. The company says the job reductions are part of a targeted $5.5 billion cost savings across the company. As of Oct. 1, Disney employed 220,000 people, of which about 166,000 worked in the U.S. and 54,000 internationally.
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