Disney Cutting Workforce

Disney’s CEO Bob Iger announced during a live earnings call on Wednesday, February 8, 2023 that even though the Walt Disney Company exceeded Wall Streets expectations, Disney would experience a workforce reduction of 7,000 jobs.

This massive workforce reduction is an attempt to cut costs for the House of Mouse and an attempt to save $5.5 billion company-wide.

Although it was not announced which departments would take the brunt of the layoffs, it is widely thought that streaming entertainment is most-likely.