CHATTER AWAY: Overnight Open Thread

Yahoo Finance reports:

Disney will lay off 7,000 workers as the company seeks to slash $5.5 billion in costs and restructures the organization into three core business segments: Disney Entertainment, ESPN, and Disney Parks, Experiences and Products.

“We will be reducing our workforce by approximately 7,000 jobs,” CEO Bob Iger said during the company’s first quarter earnings call. “While this is necessary to address the challenges we’re facing today, I do not make this decision lightly. 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.”

Disney reported quarterly results after the bell on Wednesday that showed a beat on both the top and bottom lines as demand for the company’s theme parks soared during the holiday period.

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