Disney Will Begin Mass Layoffs This Week

  • “For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward,” Iger told employees.
  • “In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world, now, and long into the future.”
  • Disney shares rose 0.8% on Monday morning upon the release of the memo; the company’s stock price has declined 31.7% over the past year.
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