Disney to fire 7,000 people in restructuring exercise

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“The work we are doing to reshape our company around creativity, while reducing expenses...”

The layoffs represent an estimated 3.6% of Disney’s global workforce.

Subscribers to the Disney+ streaming business declined 1% in the quarter to 161.8 million, the first big decline, amid cancellations of theDisney’s streaming division suffered huge losses, doubling to $1.05 billion from a year earlier.

 

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