retrenchment | Entertainment giant Disney is planning to cut 4,000 jobs. The company is reported to have ordered managers to identify employees who need to be laid off. The company is planning layoffs in April.
retrenchment | Entertainment giant Disney is planning to cut 4,000 jobs. The company is reported to have ordered managers to identify employees who need to be laid off. The company is planning layoffs in April. But, will the retrenchment be done in smaller groups? Or send four thousand people home together? There should be clarity in that matter. Disney’s annual meeting will be held on April 3.
The reason for these layoffs is that the company actually expects to make $7 billion. Reports suggest that the entertainment company may cut down on its streaming service business to focus on its streaming service Hulu. Earlier, the company’s CEO Bob Iger announced that Disney would cut 7,000 jobs in February. This will save the company about seven billion dollars.
At the same time, the company is planning to reduce the content and also cut the salary of the employees. Meanwhile, many companies are laying off a large number of employees. In this sequence, on the other hand, Meta will lay off a large number of employees in the company. Meta plans to lay off around 10,000 employees. About 11 thousand employees have already been fired. Communications technology company Zoom also plans to cut 15 percent of its workforce. Under this, about 1500 employees have been retrenched.
