The Walt Disney Company has just announced they are cutting operating costs to the tune of 5.5 Billion dollars which will include reducing the workforce by 7,000 jobs across the company.
The company says this is a decision that was not made lightly.
…[We] will be reducing our workforce by approximately 7000 jobs, while this is necessary to address the challenges we are facing today, I do not make this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees worldwide and mindful of the personal impact of these changes.
Robert Iger, CEO, The Walt Disney Company
For more announcements from the earnings call, check out our full recap.
