walt disney

After 7,000 job cuts, Disney CTO leaves the company – Times of India

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After 7,000 job cuts, Disney CTO leaves the company – Times of India

Disney’s Chief Technical Officer (CTO) Jeremy Doig has reportedly exited the company as per an internal note spotted by Bloomberg. This news comes days after Disney CEO Bob Iger announced plans to lay off 7,000 employees in favour of a restructuring at the organisation.In the note, Mike Hanley, senior vice president for engineering for Disney’s … Read more

Disney to Lay Off 7,000 Workers, Restructure Firm in Sweeping Revamp

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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