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Disney Plans to Cut 7,000 Jobs, $5.5 Billion in Costs

By Robbie Whelan


Newly reinstated CEO Robert Iger outlines his reorganization plan for the media giant

Walt Disney Co. DIS 0.13%increase; green up pointing triangle said it plans to cut 7,000 jobs and slash $5.5 billion in costs as part of a major corporate reorganization that gives more power to the company’s content executives and puts a greater emphasis on sports media at the company.

Robert Iger announced the news in his first earnings call since returning as chief executive. In the wide-ranging call, Mr. Iger outlined plans for significant changes to the company’s slate of movies and television shows, the reinstatement of Disney’s dividend and possible changes in pricing for the company’s streaming video services, among other things.






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