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Disney to Cut 7,000 Jobs. Here's What the Company's Plans Mean for Investors

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Disney to Cut 7,000 Jobs. Here's What the Company's Plans Mean for Investors: https://g.foolcdn.com/editorial/images/720029/tourists-at-disneyland-taking-a-photo-in-front-of-sleeping-beauty-castle.jpg

Disney (NYSE: DIS) just joined the list of high-profile companies letting workers go.

In conjunction with the company's quarterly financial report released Wednesday afternoon, recently reinstated CEO Bob Iger said Disney plans to reduce its staff by 7,000, or roughly 3.6% of its worldwide workforce. The move is part of a broad-based, companywide strategic reorganization designed to "address the challenges [Disney] is facing today," according to Iger.

Disney is just the latest in a growing list of companies cutting staff levels in the face of economic uncertainty, joining other tech and big media players, including Netflix and Warner Bros. Discovery.

Source Fool.com

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