Disney Theme Parks Remain Bright Spot for Embattled Company Set to Shed 7,000 Jobs
Photo Credit: Disney's first quarter earnings for the 2023 fiscal year. Unsplash / Brian McGowan
Skift Take
The company is starting off its 100th anniversary by cutting more than $5 billion in costs, and by laying off 4 percent of its global workforce. Seems like the company is more in survival mode than creativity mode. As Disney goes through the turmoil, the steady growth at theme parks will come into even greater focus.
Walt Disney Corporation CEO Bob Iger is optimistic about the future of Disney theme parks, even as he announced his company was cutting 7,000 jobs from its workforce, reorganizing and slashing $5.5 billion in costs during Wednesday's first quarter earnings call.
Disney executives are reorganizing to bring a more “cost-effective coordinated and streamlined approach to our operations,” Iger said. Within the $5.5 billion cost cut, $3 billion will come from content and $2.5 billion from non-content. It was not clear at this point how much of that would c
