The Walt Disney Company will be laying off thousands of employees as part of a new round of ways to cut costs, according to CEO Bob Iger.
- In a way to cut costs, the Walt Disney Company will be laying off thousands of employees, as revealed by CEO Bob Iger.
- On the House of Mouse’s Q1 earnings call with CFO Christine McCarthy, Iger said that 7,000 jobs would be let go from the now 100-year-old company. "I have enormous respect and appreciate for the dedication of our employees worldwide," Iger said. "While this is necessary to address the challenges we face today, I do not make this decision lightly."
- With domestic employees being hit the hardest, the cuts will be fairly light in the company's parks and resort division.
- Disney has about 220,000 employees globally, so this will affect just over 3% of the company.