The Walt Disney Co. will reduce its workforce by 7,000 and restructure into three core business segments, CEO Bob Iger said Wednesday on a call with financial analysts.
The call was the first for Iger after reclaiming his role as CEO last November following the ouster of Bob Chapek.
Disney Parks, Experiences and Products will remain one of the three core business segments of the company, with chairman Josh D'Amaro continuing at the helm. The two other core segments will be Disney Entertainment -- including all entertainment media and content businesses -- and sports broadcaster ESPN.