In today’s Q1 2023 earnings call, CEO Bob Iger announced an initiative to cut costs across The Walt Disney Company. As a result, the company will be cutting a significant number of jobs.

According to Iger, Disney will cut approximately 7000 jobs across the company. Iger noted he does not take this decision lightly, but seeks to continue cutting costs across the company and run Disney more efficiently.

This is in line with statements made by Iger last year that former CEO Bob Chapek’s announced hiring freeze would still go on as planned.

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