Disney to lay off 7,000 workers

The house-of-mouse is to cut 7,000 jobs as part of a plan to save $5.5 billion and make its Disney+ streaming service profitable, after reporting its first fall in subscribers since it launched in 2019


Oct 1, 2022: Disney employs 220,000 people, of whom around 166,000 work in U.S. and 54,000 internationally

7,000 staff cut (3.2% of workers)


FIRST QUARTER OPERATING INCOME BY SEGMENT ($m)
                		-1,000	0	1,000	2,000	3,000

Parks, experiences and products	2020				2,522
				-119	2021 (Covid-19 hits theme parks hard)
				2022			2,450
				2023				3,053

Cable and broadcast channels	2020 			1,808 								2021 			1,729
				2022 		1,499 	
				2023		1,255

Content sales, licensing and other (CSL)
				2020 		776
				2021	188
	 			-98	2022
				-212	2023

Streaming services		-1,110	2020 Subscribers to Disney+ fell 1% to 161.8 
				-466 	2021 million compared to previous quarter
				-593	2022
				-1,053	2023


REVENUE 
37%
31%
22%
10%		

OPERATING INCOME 
71%
29%

WHERE DISNEY MAKES ITS MONEY
CSL /Streaming services make loss and are not included

Based on Q1 FY 2023, ended Dec 31, 2022


Sources: BBC, AP, Disney Investor Relations 
Logo/illustration: © Disney 
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