Layoffs at Disney, plan of major restructuring announcement by CEO Bob Iger

Disney Studios Burbank

Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • Disney plans layoffs for thousands next week, report says
  • Walt Disney Co. announced it would trim its payroll by some 7,000 jobs in February
  • Bloomberg, citing people familiar with the plans said the company would cut about 15% of the staff in its entertainment division.
  • The cuts will include those in TV, film, theme parks and on corporate teams, in every region where Disney operates.
  • Disney Entertainment, a unit created in a restructuring this year, would also be impacted, the report said.
  • The move was part of major restructuring aimed at saving the company billions and was announced by CEO Bob Iger during the first-quarter earnings call.
  • Disney said then that it plans to save $5.5 billion in its overhaul, cutting $1.5 billion in operating costs and another $3 billion from reductions in non-sports content — including the job cuts.

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