Disney to cut 7000 jobs in $8 billion cost-cutting sweep
Disney become the latest company to report deep job cuts, saying it will cut 7000 jobs from its global workforce.
Disney had about 220,000 workers as of October 1, of which approximately 166,000 were employed in the US.
A cut of 7000 jobs represents about 3 per cent of its global workforce.
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"While this is necessary to address the challenges we're facing today, I do not make this decision lightly," CEO Bob Iger, who returned to lead the company in November when the board fired Bob Chapek as the company's leader, said.
"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."
The job...