Today during the earnings call, Bob Iger announced that the company would cut 7,000 jobs in an effort to reduce costs and save the company money.
“We will be reducing our workforce by approximately 7000 jobs,” Iger said on the call. “While this is necessary to address the challenges we’re facing today, I do not make this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees worldwide. And I’m mindful of the personal impact of these changes. on the content side, we expect to deliver approximately $3 billion in savings over the next few years, excluding sports. Christine will be providing more details during the call.”
More to come.
