Today Disney announced it’s 1st quarter 2023 number that beat expectations. Disney+ subscriber loss was less than expected at just over 2 million.
Disney also said it would be cutting 7,000 jobs from its workforce. That works out to be about 3% of the roughly 220,0000 people it employed as of Oct. 1 2022, according to an SEC filing, with roughly 166,000 in the U.S. and about 54,000 internationally.
Disney will also reorganize into three divisions, entertainment, ESPN and parks.
The cut will come from ESPN, Parks, and Streaming. Disney is looking to streamline it’s staff as it looks to see streaming become profitable.
This is breaking news more coming soon.