Monitoring Desk
SAN FRANCISCO: Entertainment firm Disney said Wednesday it was laying off 7,000 workers, in CEO Bob Iger’s first key decision since last year.
The company CEO said that he did not make this decision lightly, adding he has enormous respect for the talent and dedication of their employees worldwide.
Disney
Disney 2021 annual report stated that the firm employed 190,000 people across the world 80 percent of whom were full-time employees.
Subscribers to Disney+ fell one percent to 168.1 million customers on December 31, compared to 3 months earlier. Analysts had expected the decrease, and the Disney share price remained 8 percent higher in post-session trading.
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Across its vast entertainment business, the Disney Group saw revenues of $23.5 billion for the three-month period, better than analysts had hoped. Disney is caught in a fight with Florida governor Ron DeSantis.
And DeSantis, who is tipped as an expected US presidential candidate, is furious at Disney for disapproving of a state law banning school lessons on sexual orientation.
