Disney is to let go of 7,000 employees in a “major shake-up” of the entertainment giant.
The job cuts amount to around 3.6% of Disney’s workforce around the world, and are part of a plan to save $5.5bn (£4.5bn) and make its Disney+ streaming service profitable.
Disney chief executive Bob Iger said he did “not make this decision lightly”.
Iger, who returned to Disney in November, said the changes would "better position us to weather future disruption and global economic challenges".
Last year, Disney+ reported a $1.5bn loss, adding that its subscribers fell by around 2.4 million to 161.8 million.
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