Disney to cut 7,000 jobs and reduce costs by a staggering $5.5 billion
Allwork
FEBRUARY 9, 2023
What’s going on: During its quarterly earnings call with investors on Wednesday, Disney announced plans to cut $5.5 billion in costs: $3 billion coming from content and the remaining $2.5 billion from non-content related areas. Additionally, they are cutting 7,000 jobs, representing 3% of their global workforce of 220,000 (166,000 of which are based in the U.S.).
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