Disney to cut 7,000 jobs and slash $5.5 billion in costs as it unveils vast restructuring
- Disney said it will be reorganizing into three divisions: Entertainment, ESPN and parks and experiences.
- Disney will slash 7,000 jobs from its workforce and plans to cut $5.5 billion in costs, including $3 billion in content savings.
- CEO Bob Iger said the company isn’t considering a spinoff of ESPN.
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