Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.



    What's Hot

    Samsung Galaxy S25 Edge First Impressions: Slim, Sharp, and Pricey

    May 18, 2025

    Tech Wrap Of The Week: Google, Amazon Prime, Android Themes and MORE..

    May 18, 2025

    Qualcomm Announced Snapdragon 7 Gen 4 Mobile Platform

    May 17, 2025
    Facebook Instagram X (Twitter) Pinterest YouTube
    • Subscribe to the magazine
    • Join our Newsletter
    • Influencer News
    Sunday, May 18
    Facebook X (Twitter) Instagram Pinterest YouTube
    Exhibit TechExhibit Tech
    Subscribe
    • Home
    • Tech & AI
      • Tech News
      • Tech Launches
      • Tech Features
      • Gaming
      • AI & Robotics
      • Social Media
      • Cybersecurity
      • FinTech
      • Crypto
      • Space
      • Software & Apps
    • Reviews
      • Smart phones Reviews
      • Smartwatch Reviews
      • Headphones Reviews
      • Laptops Reviews
      • Tablets Reviews
      • Earbuds Reviews
      • Camera
      • Speakers
      • PC components
      • Accessories
      • TV
      • Comparisons
      • Best Gadget to use
    • Auto
      • Auto News
      • Auto Reviews
      • Auto Tech
      • Vehicles
        • Cars
        • Bikes
    • Deals and Offer
    • Lifestyle
      • Travel
      • Entertainment
        • Fashion
        • Sports
        • OTT
        • Music
        • Movies
      • Watches
      • Health
      • Sneakerhead
      • Photography
      • Lifestyle Features
    • Guides
      • Explained
      • How To’s
      • How Big Is
      • Tips and Tricks
      • Screw Ups
    • Interviews
      • Creators
      • Tech Talks
      • Celebrities
      • Leaders
      • Power – Talks
      • Trending Talks
      • Founder’s club
      • Petrol Head
      • Marketing Minds
      • Editor’s note
    • Events
      • Influencex Awards
        • InfluencEX Winner 2024
        • InfluencEX Winner 2023
      • Exhibit Tech Awards
        • Tech Awards Winners 2024
        • Jury 2024
        • Tech Awards Winners 2023
      • Tech Fashion Tour
      • TopGear India Awards
    Exhibit TechExhibit Tech
    You are at:Home»Entertainment»Disney cuts 7,000 jobs unveiling vast restructuring
    Entertainment

    Disney cuts 7,000 jobs unveiling vast restructuring

    By Aamir KhollamFebruary 9, 2023Updated:February 9, 20232 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    In what comes as a shocking revelation in the entertainment industry, Disney has announced that it is planning to lay off 7,000 workers to cut costs across the company. Disney’s CEO Bob Iger who recently took command of the company again after retiring for nearly two years announced the layoffs and company-wide restructuring on Wednesday. Bob stated that the move is “necessary to address the challenges we’re facing today” The rumours about layoffs began emerging right after Iger took over the CEO position again sidelining Bob Chapek back in November 2022 after stepping down in 2020.

    Disney announces layoffs

    While there have been headlines about the tech industry facing major layoffs due to the economic slowdown, this will be the first major layoff taking place in the entertainment industry. Disney is making the changes as a part of its efforts to reduce costs in a challenging economic environment. Iger revealed that the company is targeting $5.5 billion of cost savings across the company and the layoffs will help in achieving that number. However, it is not revealed which departments will be affected by the layoffs yet. The $3 billion out of the $5.5 billion target will be availed by slashing content except for sports. The remaining $2.5 billion will be made from non-content cuts like layoffs and more. Disney executives have revealed that about $1 billion in cost-cutting was already underway since the last quarter.

    As of October 1, 2022, Disney employed 220,000 people thus eliminating 7,000 jobs result in about 3% of its workforce getting axed. Before the announcement, the company released an earnings report that exceeded expectations set by Wall Street. Disney clocked $23.5 billion in revenue over the three months ending in December marking an 8% growth over the same period a year prior. On the other hand, the company’s streaming service, Disney+ actually lost subscribers for the first time since its launch in 2019. The company’s streaming platform lost around $1.5 billion last quarter and dropped a whopping 2.4 million subscribers. During his call with investors, Bob Iger stated that the company will be taking a hard look at the cost of everything they make. One can expect a lot of changes to the content Disney puts out in the next year and more.

     

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleIn Conversation With – Siddhant Chaturvedi
    Next Article 2023 Android Flagship Battle – Samsung Galaxy S23 Ultra vs OnePlus 11 vs Google Pixel 7Pro
    Aamir Khollam
    • Website

    Related Posts

    Tech Launches

    Samsung Galaxy S25 Edge First Impressions: Slim, Sharp, and Pricey

    May 18, 2025
    Tech Launches

    Qualcomm Announced Snapdragon 7 Gen 4 Mobile Platform

    May 17, 2025
    Tech Launches

    Amazfit Launches BIP 6 Smartwatch in India for ₹7,999

    May 16, 2025
    Add A Comment

    Comments are closed.

    Top Posts
    Samsung Galaxy S25 Edge First Impressions: Slim, Sharp, and Pricey
    May 18, 2025
    Tech Wrap Of The Week: Google, Amazon Prime, Android Themes and MORE..
    May 18, 2025
    Qualcomm Announced Snapdragon 7 Gen 4 Mobile Platform
    May 17, 2025
    Not Just a Run, A Movement – Nike After Dark, Mumbai
    May 17, 2025
    Fortnite’s iOS Comeback Hits a Wall – Again, Thanks to Apple
    May 17, 2025
    1 2 3 … 658 Next
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • Twitter
    • Instagram
    • Pinterest
    • LinkedIn
    • Reddit

    Subscribe to Updates



    Latest Posts
    Tech Launches

    Samsung Galaxy S25 Edge First Impressions: Slim, Sharp, and Pricey

    Sohil NikamMay 18, 2025
    Tech News

    Tech Wrap Of The Week: Google, Amazon Prime, Android Themes and MORE..

    Aadithya HarishMay 18, 2025
    Tech Launches

    Qualcomm Announced Snapdragon 7 Gen 4 Mobile Platform

    Shintu DhangMay 17, 2025

    Exhibit.Tech, we’re your one-stop destination for everything tech! Whether it’s breaking news about the latest launches from giants like Sony, Vivo, Apple, Huawei, OnePlus, Sennheiser, Poco, and more, or in-depth reviews of mobiles, smartwatches, headphones, TVs, and earbuds – we’ve got you covered.

    Our reviews go beyond the surface, highlighting the pros and cons to help you make informed buying decisions. We’re here to simplify your tech journey with practical tips, tricks, and comprehensive “how-to” guides across a wide range of topics.

    Think of us as your friendly tech companion, helping you stay updated and make sense of the ever-evolving tech world with clarity and ease. At Exhibit.Tech, we make tech work for you!

    Most Popular

    Google Rolls Out Smarter, More Inclusive AI Features for Android and Chrome

    May 16, 2025

    Apple’s New AI Gameplan – Learning from You, Without Spying on You

    April 16, 2025

    What are Next-Generation Computers and Their Future Impact on AI PCs?

    September 26, 2024
    Our Pick

    Harrdy Sandhu, Like You’ve Never Heard Before – On Loop, On Fire

    April 17, 2025

    Protect Your Digital Life: A Foolproof Backup Strategy for World Backup Day

    March 22, 2025

    Exclusive Chat with Russell Chen – Synology’s Country Manager – SAARC Region

    March 7, 2025
    Facebook X (Twitter) Instagram Pinterest YouTube Reddit LinkedIn RSS
    • About Us
    • Careers
    • Contact Us
    • Write for us
    © 2025 Exhibit Technologies | All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Subscribe to our Newsletter

    Get the most exciting tech news, trends, and breakthroughs delivered straight to your inbox.