Disney to Lay Off 7,000 Workers, Restructure Firm in Sweeping Revamp
Walt Disney on Wednesday announced a sweeping restructuring under recently reinstated CEO Bob Iger, cutting 7,000 jobs as part of an effort to save $5.5 billion (roughly Rs. 45,000 crore) in costs and make its streaming business profitable. The layoffs represent an estimated 3.6 percent of Disney’s global workforce. Shares of Disney rose 4.7 percent to $117.22 (roughly … Read more