The TAIM ExchangeWalt 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 03:432387 view
2025-05-06 03:36209 view
2025-05-06 03:131404 view
2025-05-06 02:291919 view
2025-05-06 01:20470 view
2025-05-06 01:052198 view
For 48-year-old Rowan Childs of Wisconsin, a recent divorce turned her financial life upside down. "
Last June, flooding in and around Yellowstone National Park upended the lives of nearby residents, d
As the U.S. Senate begins a month with two extended recesses, Maury Johnson of Greenville, West Virg
