Disney Set To Eliminate Thousands of Jobs Starting Next Week

Walt Disney plans to cut thousands of jobs next week, including about 15% of the staff in its entertainment division, Bloomberg reported Wednesday, citing people familiar with the plans. From the report: The cuts will span TV, film, theme parks and corporate teams, affecting every region where Disney operates, said the people, who asked not to be identified because the details aren't yet public. Some affected workers will be notified as early as April 24. The company declined to comment. Disney said in February it planned to eliminate 7,000 positions from its workforce of more than 220,000, part of an overall strategy to shave $5.5 billion in annual costs. Cuts are being carried out across the company, the people said, including at Disney Entertainment, a unit created in a restructuring this year as a home for the company's movie and TV production and distribution businesses including streaming.

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