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Disney is planning to lay off up to 1,000 employees in the coming weeks.
Disney plans to lay off up to 1,000 employees, mainly in its consolidated marketing division.
KEY POINTS
- The layoffs are part of a cost-cutting initiative codenamed Project Imagine, led by CMO Asad Ayaz.
- Disney's previous restructuring under Bob Iger resulted in $7.5 billion in savings, exceeding forecasts.
- Disney's stock has dropped 12.8% year-to-date, with layoffs worsening a post-earnings decline.
COMPANIES
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