: Disney outlines reorganization plan


Walt Disney Co. DIS, -1.27% Chief Executive Bob Iger on Thursday outlined the media giant’s major reorganization announced a day earlier. Under the plan, which entails 7,000 layoffs and $5.5 billion in cost savings, Disney will be cut into three core businesses. Disney Entertainment, co-chaired by Alan Bergman and Dana Walden, will include entertainment media and content businesses globally, including streaming. ESPN, which includes ESPN networks and ESPN+, will be led by Jimmy Pitaro. Josh D’Amaro is chairman of Disney Parks, Experiences and Products, overseeing a global hub of Disney’s travel and leisure businesses.

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