The Safetyvalue Trading CenterWalt 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.
2025-05-06 01:24852 view
2025-05-06 01:221021 view
2025-05-06 00:441113 view
2025-05-06 00:12426 view
2025-05-05 23:49526 view
2025-05-05 23:051745 view
LOS ANGELES (AP) — The California Department of Motor Vehicles has apologized for an “unacceptable a
No one ever listened funnier than Bob Newhart.Any acting coach will tell you, of course, that an abi
Follow AP’s live coverage of the investigation into the assassination attempt on Trump, the RNC and
