Disney to cut 7,000 jobs in Iger’s company ‘transformation’

LOS ANGELES — The Walt Disney Co. will cut about 7,000 jobs as part of an ambitious companywide cost-savings plan and “strategic reorganization” announced Wednesday by CEO Bob Iger.

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.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Disney stock gains as Bob Iger's earnings return produces a beat despite Disney+ disappointmentDisney Chief Executive Bob Iger returned to the earnings stage Wednesday and delivered a big beat, largely thanks to improving financial results at $DIS’s theme parks, but Disney+ subscribers declined more than expected.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

Florida lawmakers file bill to change powers of Disney Reedy Creek district - Jacksonville Business JournalThe Reedy Creek Improvement District board, name and powers all have been revamped in a new 2023 bill filed Feb. 6.
مصدر: JaxBizJournal - 🏆 599. / 51 اقرأ أكثر »