Disney lays off chairman of Marvel Entertainment

1 min read 29 Mar 2023, 09:42 PM IST Reuters

Disney has laid off the chairman of Marvel Entertainment as part of the cost-cutting campaign

Walt Disney has laid off Marvel Entertainment Chairman (REUTERS) — Walt Disney has laid off Marvel Entertainment Chairman **(REUTERS)**

Walt Disney Co has laid off Marvel Entertainment Chairman Isaac "Ike" Perlmutter as part of a cost-cutting campaign, a source confirmed Wednesday.

Perlmutter had supported activist shareholder Nelson Peltz's unsuccessful bid to obtain a seat on Disney's corporate board.

The executive was informed Wednesday that Marvel Entertainment, a consumer products unit run separately from Marvel Studios, would be merged into other Disney business units, according to the New York Times, which first reported Perlmutter's ouster.

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Updated: 29 Mar 2023, 09:42 PM IST