Disney Lays Off Marvel Entertainment Chairman Ike Perlmutter

Disney Studios has been in the process of a massive layoff, with CEO Bob Iger cutting an estimated 7,000 jobs. The layoffs are a way to help cut down the $5.5 billion needed to improve the company's financial numbers because, you know, Disney isn’t making enough money. The layoffs are mostly meant to fill the pockets of the top executives at the company, but they won’t say that. It’s just the way of the big businesses.

However, there is one big executive that has lost his job in the process, the chairman of Marvel Entertainment… Isaac (Ike) Perlmutter. This report comes from The New York Times and it was confirmed by Disney.

He’s been a thorn in the side of Disney and Marvel, and the cause of contention for years, so this gave them the opportunity to get rid of him for good so they don’t have to deal with him anymore. He was reportedly given the news over a phone call and he was also told that Marvel Entertainment will be folded into Disney's larger business units.

I’m sure this will make Marvel Studios President Kevin Feige very happy, as Perlmutter attempted to fire Feige back in 2015.

As far as the controversial layoffs go, Iger wrote in a memo to the company: "The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here. That's part of what makes working at Disney so special. It also makes it all the more difficult to say goodbye to wonderful people we care about. I want to offer my sincere thanks and appreciation to every departing employee for your numerous contributions and your devotion to this beloved company."

While it sucks to see so many people losing their jobs at Disney, at least Ike Perlmutter is out. Marvel Entertainment will now fold into Marvel Studios, which is run by Kevin Feige.