Tag: Disney

Disney CEO Bob Iger announced price hikes for Disney+ and layoffs to reassure investors about the company's streaming business. The price hikes come as Disney faces increasing competition from rivals like Netflix and Amazon. The layoffs are part of a $1 billion cost-cutting initiative. Iger said the moves were necessary to make Disney more efficient and to position the company for long-term growth. Investors welcomed the moves, sending Disney shares up more than 5% in after-hours trading.