Disney will Cut 7,000 Jobs and Undertake Massive Restructuring

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Disney CEO Bob Iger on Wednesday announced that the company will lay off 7,000 employees and undertake massive restructuring as it struggles with subscriber losses. Disney’s Media & Entertainment Distribution team and the Technology & Product team are expected to be the major target for these mass job cuts, which Iger said would cut $5.5 billion in costs. In the past four months, Disney lost 2.4 million Disney+ subscribers around the globe in large part due to the company’s promotion of radical left-wing agenda.