JOURNAL ARTICLE

Disney is starting its second round of massive job cuts as Bob Iger tries to save $5.5 billion a year.

  • Published In: Fortune.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Buckley, Thomas 3 of 3

Abstract

The article focuses on Walt Disney Co.'s ongoing job cuts as part of a strategy to reduce costs and streamline operations. The company is eliminating approximately 7,000 positions, with the current round of layoffs expected to account for around 4,000 jobs, following an earlier reduction in March. These cuts are part of CEO Bob Iger's plan to save $5.5 billion annually and shift the company's focus towards franchises and well-known brands, particularly within Disney Entertainment. The layoffs will affect various divisions across the company, but hourly workers at theme parks will remain unaffected. [Extracted from the article]

Additional Information

  • Source:Fortune.com. 2023/04, pN.PAG
  • Document Type:Article
  • Subject Area:Marketing
  • Publication Date:2023
  • Accession Number:163312143
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