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Disney to Lay Off 7,000 People Amid Massive Subscriber and Revenue Losses

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Even the House of Mouse isn't immune to the challenging economic climate. After Disney lost $1.5 billion in direct-to-consumer revenue last quarter, former CEO Bob Iger made his return, ousting his successor Bob Chapek. In an earnings call this evening, Iger's first earnings call since his return, the CEO announced an immediate restructuring at Disney,...

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