Disney fires the head of Marvel Entertainment to decrease cost

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Isaac "Ike" Perlmutter 80 was let go by the department in charge of producing comic books.

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and certain consumer goods being combined into larger Disney business groups said a source with knowledge of the matter.

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In an effort to save $5.5 billion in expenditures and get its streaming business viable Disney started to remove 7000 workers on Monday.

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The comic book publisher was taken over by Perlmutter in the late 1990s then in 2009 Marvel was sold to Disney for $4 billion.

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while Perlmutter stays in charge of the Marvel assets.

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Nelson Peltzs failed activist shareholder bid got Perlmutters backing.

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to join the corporate board of Disney this year.

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