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Disney plans to eliminate thousands of jobs next week ... Former Disney CEO Bob Chapek, who Iger handpicked to serve as his successor in February 2020, was dismissed by the board of directors after lackluster financial performance under his leadership and replaced with Iger in November 2022. The company’s stock price has declined 17% over the past year, and several other prominent entertainment and technology companies have been forced to dismiss large shares of their employees. Disney has also lost trust among some consumers after Chapek and other executives involved the firm in contentious culture war battles last year. Disney...

The Walt Disney Company is going to cut thousands of staff next week - including 15 percent of its entertainment division. Disney has around 220,000 employees globally, around 170,000 of which are in the US. The layoffs will affect all major divisions of the roughly $185 billion company, which was recently split into: entertainment, ESPN and parks and resorts. Disney parks employs the majority of workers in the US - around 100,000 people in 2020, according to the latest publicly available figures - but it's unclear exactly how many staffers are being cut from each division. These plans were first...