Categories
Business World

Walt Disney elects woman to become chairman for the first time in 98-year history

Walt Disney elected a woman to become its chairman for the first time in the entertainment giant’s 98-year history. Susan Arnold, who has been a board member for 14 years, will succeed Bob Iger at the end of this year. She was formerly an executive at global investment firm Carlyle. Mr Iger, who stepped down […]

Categories
Business

Walt Disney to lay off 28,000 employees at US theme parks

Walt Disney will lay off 28,000 employees, mostly at its US theme parks. Disney cited the parks’ limited visitor capacity and uncertainty about how long the coronavirus pandemic would last as reasons for the layoffs. The company’s theme parks have taken a major hit from the pandemic. Disney shut all its parks earlier this year […]