Walt Disney Co. DIS has axed more than 300 streaming employees in China, the latest purge in its cost-cutting program to eliminate 7,000 jobs that started in earnest this week. The layoffs affected employees working in personalization, search and customer identification for Disney’s streaming services, according to a Wall Street Journal report on Wednesday. Earlier in the day, Isaac Perlmutter, the billionaire who sold Marvel Entertainment to Disney in 2009, was let go. Disney is in the midst of a $5.5 billion restructuring as it competes with Netflix Inc. NFLX , Apple Inc. AAPL, Amazon.com Inc. AMZN, and others for supremacy in the video-streaming market.
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