WSJ: Walt Disney To Cut Jobs

(RTTNews) - Walt Disney Company (DIS) is planning to reduce 1,000 jobs, the Wall Street Journal reported on Wednesday. The lay-off will largely affect roles in the marketing department.

The Walt Disney Company recently appointed Josh D'Amaro as Chief Executive Officer, succeeding Robert Iger. Dana Walden, Co-Chairman of Disney Entertainment, assumed the role of President and Chief Creative Officer. Last month, Dana Walden announced the new leadership structure for Disney Entertainment, bringing together the company's streaming, film, and television businesses along with its games and digital entertainment division.

At last close, Walt Disney shares were trading at $99.18, up 3.55%.