Walt Disney’s Bob Iger sets out timeline for 7,000 job cuts

Walt Disney will start cutting about 7,000 jobs this week until early summer, aiming to find $5.5bn in savings to stem video streaming losses.

March 28, 2023 . 4:29 AM

1 min read

Walt Disney will start cutting about 7,000 jobs this week until early summer, with bulk taking place in April.
Measures are needed for Disney to adopt a more effective, coordinated and streamlined approach, aiming to find $5.5bn in savings.
Cuts are expected to be spread across the company, but hourly workers at its theme parks are not expected to be affected.
Disney recorded a $1.5bn quarterly loss in streaming, and aims to turn a profit in streaming next year.
Disney plans to slash $3bn from content budgets and $2.5bn in other costs.