Disney to cut 7,000 jobs in major shake-up of firm
Disney chief executive Bob Iger says he is cutting 7,000 jobs in a major shake-up of the entertainment giant.
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." "This reorganisation will result in a more cost-effective, coordinated approach to our operations," Mr Iger told analysts on a conference call.Disney share price rose by more than 5% in extended trade after the announcement.
In response to the announcement Mr Peltz's Trian Group said: "We are pleased that Disney is listening."
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