Isaac 'Ike' Perlmutter, the chairman of Marvel Entertainment, was laid off as part of Disney's cost-cutting efforts, an active attempt to save $5.5 Billion in costs.
The chairman of Marvel Entertainment is the latest casualty of cost-cutting moves at
Isaac "Ike" Perlmutter, 80, has been laid off as the division responsible for comic book publishing and some consumer products is merged into larger Disney business units, according to a person familiar with the situation Dan Buckley, president of Marvel Entertainment, will reportedly remain and report to Marvel Studios President Kevin Feige.
Disney began to eliminate 7,000 jobs on Monday in an effort to save $5.5 billion in costs and make its streaming business profitable.Perlmutter took control of the comic book publisher in the late 1990s and sold Marvel to Disney for $4 billion in 2009, with Perlmutter continuing to oversee Marvel properties.Bob Iger has returned to Disney as CEO, replacing Bob Chapek.
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