Disney: The first round of layoffs at Disney will start this week. The media and entertainment company will lay off 7,000 workers altogether over the course of three rounds, according to CEO Bob Iger. According to reports, ESPN, the parks and resorts sector, and Disney’s media and distribution business will all experience employment layoffs.
Disney would be restructuring the business
Iger stated in the memo that “this week, we start notifying employees whose positions are impacted by the company’s staff reductions.” We anticipate to start the final round of notifications before the start of the summer to accomplish our 7,000-job target, he continued. “A second, larger wave of notifications will happen in April with several thousand more employee reductions. Iger had indicated in February that Disney would be restructuring the business, reducing content, and reducing payroll in order to save billions of dollars.
Must Read: Deadline Extended! Link your PAN and Aadhaar by June 30, 2023, or risk losing your PAN card
Disney anticipates saving $3 billion over the following few years, excluding sports
“For those of our colleagues who won’t be touched, I want to acknowledge that there will undoubtedly be difficulties as we continue to develop the systems and processes that will help us succeed in the future. I kindly request your continuous cooperation and understanding during this time “Iger added details in his memo. Disney anticipates saving $3 billion over the following few years, excluding sports. In order to minimise expenses, Warner Bros. Discovery and other long-standing media companies have likewise slashed thousands of jobs.
Must Read: EPFO Maintains Interest Rate at 8.15% for 2022-2023 Despite Historic Low Last Year
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.
