Of the 7,000 jobs Disney announced would be cut earlier in the year, as many as 4,000 are expected to be handed down in the coming weeks as Disney executives have been told to start making changes. According to Disney Chief Financial Officer Christine McCarthy, the massive cut in employment at The Walt Disney Company is expected to save the company $5.5 billion.
Website Business Insider reported, “over the past two weeks, Disney managers have been given targets to reduce their budgets along with headcount, according to a person familiar with the company.” The move is expected to realign Disney’s financial standing with investor expectations as the company struggles to recover from the disappointing financial returns incurred, in part, by a Chapek-driven over-investment in streaming.
Zoë Wood is a travel writer from Sydney, Australia. Since her first visit to Disneyland at the age of 6, she has spent her years frequently visiting Disney Parks and traveling around the world.
Join Zoë as she lets you in on all the tips, tricks, anecdotes, and embarrassments that arise from her family adventures.
