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Disney plans to cut 7,000 jobs
The Walt Disney Company will slash 7,000 jobs in an effort to cut costs and will be restructured into three core business segments, CEO Bob Iger revealed Wednesday during the company's first-quarter earnings call. FOX Business contributor Gary Kaltbaum weighs in.
ORLANDO, Fla. - A new experience is coming to Disneyland – Avatar.
Disney CEO Bob Iger teased the development during Wednesday afternoon's quarterly earnings call, where he also announced sequels for Toy Story, Frozen, and Zootopia, and a restructuring of the company that will result in approximately 7,000 layoffs.
"I'm thrilled to announce we will be bringing an exciting Avatar experience to Disneyland. We'll be sharing details on that very soon," he said.
Pandora - World of Avatar opened at Walt Disney World's Animal Kingdom in 2017 and features two rides, "Avatar Flight of Passage" and "Na'vi River Journey." It's not yet clear what type of experience will be part of Disneyland.
During the call, Iger, who unexpectedly returned to lead The Walt Disney Company in November 2022 after Iger's successor Bob Chapek was fired, said the company would be restructured into three core business segments: Disney Entertainment, ESPN, and Disney Parks, Experiences, and Products, and that its Disney+ streaming service would continue to be a focus for the company.