Disney cuts hundreds of jobs
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READING:
Disney is cutting hundreds of jobs. Since 2023, it has cut more than 8,000 jobs worldwide. The company wants to reduce costs by $7.5 billion a year. The latest job losses are in marketing departments. A Disney spokesperson told the Fox Business website: "As our industry transforms at a rapid pace, we continue to [look at] ways to efficiently manage our businesses, while fuelling the…creativity and innovation that consumers value and expect." The CEO of Disney said the cuts would keep the company healthy. He said: "We remain [positive] about the direction of the company."
Disney is one of the most famous companies in the world. It was founded in 1923 by brothers Walt and Roy Disney. In 1928, they made a short film called "Steamboat Willie". This was one of the first cartoons with sound. It was the debut of Mickey Mouse. Disney is now a huge entertainment company. It owns the animation companies Pixar and Marvel Studios, and big names like ESPN, National Geographic, and ABC News. It also has theme parks in the USA, France, Japan and China. It recently announced plans to build a new park in Abu Dhabi.
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