The happiest place on Earth is about to be rather less so.
On Monday Disney CEO Bob Iger mentioned his firm will start shedding employees beginning this week, following his announcement in February that the corporate would axe 7,000 jobs.
The cuts to Disney’s workforce are a part of a cost-cutting initiative geared toward streamlining the corporate’s operations in a interval of media business turmoil.
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“There is likely to a be few tears at the happiest place on Earth with more than 7000 people losing their jobs at Disney,” Trading Up host Heidi Cuthbert mentioned on Monday’s episode.
“The Mouse House is losing money from its streaming business, which lost just over 1 billion in the December quarter of last year.
“Not even a wish upon a star can help the fact that Disney’s stock price slumped 44 per cent in 2022.”
Also on Trading Up, Heidi reveals the West Aussie inventory that’s taking a Lion’s share. Plus, Perth investor Tim Goyder is a billionaire once more because of Liontown.
Source: www.perthnow.com.au
