I have enormous respect and appreciate for the dedication of our employees worldwide, Iger said.
While this is necessary to address the challenges we face today, I do not make this decision lightly.
Larger than anticipated, thelayoffswill be across almost all of Disneys empire.
Getty Images
Along with trying to fix the companys financial issues, Iger is contending with a potentially messy proxy battle.
The showdown will ultimately come at Disneys annual shareholder meeting, the venue for a vote on board candidates.
On the event horizon for todays earnings and announcements, that meeting will be held virtually in early April.
