Starting the following week, the Walt Disney Company is anticipated to fire thousands of employees. 15% of Disney’s employees who work for the company’s entertainment business will be affected by these job cutbacks.
The job losses would affect people employed by Disney’s TV and film divisions as well as those working at theme parks and corporate positions, according to persons familiar with the issue.
According to the Bloomberg story, the most recent employment losses would have an effect on every region where Disney operates. Notifications to affected staff will begin to be sent as early as April 24. Earlier in February, Disney announced 7,000 job losses as part of its cost-cutting measures to lower its yearly spending by $5.5 billion.
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The number of workers at Disney Entertainment, which includes the company’s streaming, distribution, and film and television production activities, will significantly decline as a result of the layoffs.
As the streaming industry focuses on managing online video platforms, major businesses including Paramount Global, NBC Universal, and Warner Bros, have also reduced employment. Bob Iger, the current CEO of Disney, took over after Bob Chapek was ousted in November as a result of the company’s $1.47 billion quarterly loss in its streaming sector