Disney announces 7,000 layoffs while teasing Toy Story and Frozen sequels

Cuts represent an estimated 3.6% of Disney's global workforce in effort to save $5.5bn in costs and follow major job losses at other top US companies

Disney has announced a sweeping corporate restructuring that will result in 7,000 people losing their jobs as part of an effort to achieve US$5.5bn (4.5bn, A$7.9bn) in cost savings, at the same time as revealing plans for sequels to Toy Story and Frozen.

The layoffs represent an estimated 3.6% of Disney's global workforce and come after major job cuts at other US giants including Alphabet, Amazon, Ford and Meta.