Walt Disney will have massive layoffs

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Walt Disney will have massive layoffs

Photo: forbes.com

The Walt Disney company plans to lay off up to 7 thousand employees within the framework of the reorganization, reports RIA Novosti with reference to an interview with the company's CEO Robert Iger.

The revitalized Walt Disney Company will be divided into three parts: one for film and television content, one for sports, and one for merchandise and theme parks.

The company expects that such large-scale changes will reduce up to 5,5 billion USD.