Disney to cut 7,000 jobs as streaming numbers fall for first time

[Social Media]

Disney chief executive Bob Iger says he is cutting 7,000 jobs in a major shake-up of the entertainment giant.

The layoffs are part of a plan to save $5.5bn and make its Disney+ streaming service profitable, which reported its first fall in subscribers since it launched the service in 2019.

Mr Iger said he did "not make this decision lightly".

He announced the changes alongside ts latest sales figures, his first since he returned to Disney in November.

Commenting on the job cuts, Mr Iger said: "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."

He said the changes would "better position us to weather future disruption and global economic challenges".