Returning Disney CEO Bob Iger is making some aggressive cuts at the House of Mouse in the wake of Florida Governor Ron DeSantis revoking Disney’s special self-governing status.
The company will reduce its workforce by 7,000 employees, according to Iger.
“I have enormous respect and appreciation for the dedication of our employees worldwide,” Iger said, as he planned to send a bunch of them off to the unemployment line.
From The Daily Wire:
The cut represents 3.2% of the company’s 220,000 global workforce, the report said.
The company hopes to save more than $5 billion in costs, half of which is aimed at cutting back on “non-content costs,” the report said. The company also is looking to cut back on sports by roughly $3 billion.
…
The report said that Iger laid out a new company structure for Disney comprised of three separate segments: Disney Entertainment, ESPN, and Disney Parks.
The announcement comes after newly released legislation by Florida Republicans this week will allow Governor Ron DeSantis to appoint all five leaders of Disney’s tax district in Orlando and will officially rename the district.
The bill will turn the Reedy Creek Improvement District into the Central Florida Tourism Oversight District and will deliver on DeSantis’ promise last year to take over the district.
Disney stock is down more than 20% over the past year.
More over at The Daily Wire:
Disney To Cut Thousands Of Jobs To Save Money As DeSantis Set To Take Control Of Company’s Orlando District Under New Bill: Report https://t.co/mkOJNtz4lx pic.twitter.com/XaG6duwcFa
— Daily Wire News (@DailyWireNews) February 8, 2023