Disney cuts hundreds of jobs
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The reading
The Walt Disney Company is cutting hundreds of jobs. Since 2023, Disney has cut more than 8,000 jobs worldwide. The job cuts are the company's attempt to reduce costs by $7.5 billion a year. The latest job losses are in the marketing departments for film and television. A Disney spokesperson spoke to the Fox Business website. She said: "As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses, while fuelling the…creativity and innovation that consumers value and expect from Disney." The CEO of Disney, Bob Iger, said the cuts would keep the company healthy. He said: "We remain optimistic about the direction of the company." Disney is one of the most famous companies in the world. It was founded in 1923 as an animation studio by brothers Walt and Roy Disney. In 1928, the studio produced a short film called "Steamboat Willie," which was one of the first cartoons with sound. The film was the debut of Mickey Mouse, who became Disney's mascot. Disney is now a huge mass media and entertainment company. It owns the animation companies Pixar and Marvel Studios, as well as household names like ESPN, National Geographic, and ABC News. It also operates theme parks in the USA, France, Japan and China. It recently announced plans to build a new theme park and resort in Abu Dhabi, UAE.
Sources:
- https://www.foxbusiness.com/lifestyle/disney-cuts-hundreds-tv-film-jobs-amid-streaming-expansion
- https://finance.yahoo.com/news/disney-to-lay-off-several-hundred-employees-globally-193146536.html
- https://www.aol.com/disney-lays-off-hundreds-employees-181740241.html
- https://en.wikipedia.org/wiki/The_Walt_Disney_Company
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