Disney To Laid Off 7k Workers?

Disney owns several of the most famous franchises and companies in the world, such as Marvel, Lucasfilm, Pixar and ESPN, but that does not save it from suffering economic problems in recent times. Therefore, CEO Bob Iger announced a major restructuring in the company that will leave thousands of people without jobs Movies. Mila Kunis roasts 'awkward red carpet chemistry' between hubby Ashton Kutcher and her BFF Reese Witherspoon Celebrities. Disney owns several of the most famous franchises and companies in the world, such as Marvel, Lucasfilm, Pixar and ESPN, but that does not save it from suffering economic problems in recent times. Therefore, CEO Bob Iger announced a major restructuring in the company that will leave thousands of people without jobs. This Wednesday, Disney CEO Bob Iger announced that the company will begin a major corporate restructuring that will result in the loss of 7,000 jobs, with the goal of saving $5.5 billion in operating costs. Iger announced that the company will reorganize into three parts: an entertainment unit encompassing film, television and streaming; an ESPN unit focused on sports; and Disney parks, experiences and products. "I don't take this decision lightly," Iger said on a conference call with investors as he briefed them on fiscal first-quarter results. Iger reported net income of $1.279 billion, below analysts' estimate of $1.429 billion, while revenue was $23.512 billion, slightly ahead of forecasts.