Disney lays off 7,000 as streaming subscribers decline

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Entertainment giant Disney said Wednesday it was laying off 7,000 employees, as CEO Bob Iger announced a reorganisation of the company he returned to lead last year.

“I think we might have gotten a bit too aggressive in terms of our promotion; and we are going to take a look at that.”Disney remains devoted to blockbuster franchises that include recent Marvel super hero film “Black Panther: Wakanda Forever,” and has sequels in the works to hit animation films “Frozen” and “Zootopia,” Iger said.

Iger, who stepped down as CEO in 2020 after nearly two decades helming the storied company, was brought back after the board of directors ousted his replacement Bob Chapek. It was disappointed in his ability to rein in costs. Disney is also caught in a spat with Florida governor Ron DeSantis who is looking to wrest back control of the area around Walt Disney World that has until now been controlled by the entertainment giant.

 

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This is hard times.

Omo, when I was in year one, there was this senior comrade that did tutorial for us, for 5k each. On the exam day we saw him in the same hall with us rewriting the course. The funny part of the whole thing was that the course lecturer called out to him,' hey! Customer, welcome

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