The job cuts amount to about 3% of the entertainment giant's global workforce and were unveiled after Disney reported quarterly results that topped Wall Street's forecasts.
The company, which owns Star Wars, Marvel and Pixar, will focus more on its core brands and franchises, Iger said. In its latest results, solid growth at Disney's theme parks helped offset tepid performance in its video streaming and movie business. Revenue grew 8% to $23.51 billion from $21.82 billion a year earlier. Analysts were expecting revenue of $23.44 billion.
Disney+ ended the quarter with 161.8 million subscribers, down 1% from since Oct. 1. Hulu and ESPN+ each posted a 2% increase in paid subscribers during the quarter.
Go woke go broke
I ask my self Y so many jobs R lost 😡 lately when people need work pay bills /taxes /food/family/home/car
Obviously Disney is struggling and needs to pay the bills just like every other little company out there.
Axe all the straight white male, remain LGBTQ and Blacks
Probably all the diversity and white privilege divisions
Lmum
That's a lot of job losses. They're hoping to distract us from that news by announcing movie sequels to Frozen, Zootopia, and Toy Story, as if to say, 'Don't worry about these drastic cuts. We're working on sequels!'
Number one employer of Pedofiles. 😎😎😎
Go woke, go broke.