Marvel Entertainment Chairman Ike Perlmutter ‘laid off’

Perlmutter was laid off as part of cost-cutting measure, reports said

Walt Disney has laid off Marvel Entertainment Chairman Isaac 'Ike' Perlmutter, according to media reports.

This is being seen as a cost-cutting measure.

Marvel Entertainment will have Dan Buckley continuing as the President.

Perlmutter had sold Marvel to Disney in 2009 in a $4-billion deal.