- First round of job cuts announced, with 7,000 positions to be eliminated in total.
- Second round of cuts to happen in April, third by summer.
- CEO Bob Iger aims to save $5.5 billion overall.
- Cuts to affect all parts of the company, including theme parks and ESPN.
- The company is restructuring to improve financial performance.
Disney Begins Job Cuts With Goal of Eliminating 7,000 Positions
Walt Disney Co. begins first round of 7,000 job cuts, aiming to save $5.5 billion. Second round in April, third by summer. Restructuring to improve financial performance.