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Disney Job Cuts on the Horizon
Disney ((DIS - Free Report) ) is planning to cut thousands of jobs next week.
The cuts will include slashing 15% of its entertainment division.
The cuts will impact several areas within the entertainment division such as TV, film, theme parks, and corporate teams.
Every region Disney operates will be affected, with impacted personnel notified as early as April 24.
Disney had previously announced an effort to slash 7,000 jobs as it looks to eliminate $5.5 billion in costs.
The company went through its first round of layoffs at the end of March with more job cuts expected before the start of the summer to complete the 7,000-job target.
Deutsche Bank is bullish on Disney's theme parks division and upcoming film slate, and sees an "attractive setup" for shares in the back half of this year.