Disney to lay off 7,000 workers as it looks to slash billions in costs

Disney plans to eliminate some 7,000 jobs as it embarks on a broad effort to rein in expenses, chief executive Bob Iger said Wednesday.

“While this is necessary to address the challenges we’re facing today, I do not make this decision lightly,” Iger said, detailing a company reorganization that sought, among other things, to “return creativity to the center of the company” and make its streaming business profitable.

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