(CNN) Disney said it would cut 7,000 jobs from its global workforce, part of a multibillion-dollar cost-cutting initiative aimed at streamlining the company’s operations in a period of media industry turmoil. Disney had about 220,000 workers as of October 1, of which approximately 166,000 were employed in the United States. A cut of 7,000 jobs represents about 3% of its global workforce. "While this is necessary to address the challenges we’re facing today, I do not make this decision lightly," said CEO Bob Iger, who returned to lead the company in November when the board fired Bob Chapek as the company’s leader. "I have enormous respect and appreciation for the talent and dedication of our employees worldwide, and I’m mindful of the personal impact of these changes." Iger also took steps to reward shareholders, while Disney employees will feel pain from the job cut announcement. The company had suspended its dividend payments during the pandemic. Iger announced it expects that to return. "Now that the pandemic impacts to our business are largely behind us, we intend to ask the board to approve the reinstatement of a dividend by the end of the calendar year," he said. "Our cost-cutting initiatives […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
