Disney Layoffs Entertainment Giant Disney Plans For Job Cut 4000 Employees In April- Report

Disney Layoffs 2023: The biggest impact of the global recession has been on jobs around the world. While on the one hand there has been a sharp decline in the number of new jobs, on the other hand the pace of retrenchment has increased manifold. Entertainment sector giant Disney (Disney Layoffs) has once again made a plan to retrench employees on a large scale. According to the report of Business Insider, Disney is planning to lay off 4,000 employees by the month of April. The managers of the company have been asked to prepare a list of employees to be retrenched. But so far this information has not been revealed that the company is going to lay off the employees of which department the most.

Disney has already laid off 7,000 employees

This is not the first time that Walt Disney has laid off employees on such a large scale. Earlier in February 2023 also, the company had announced the layoff of 7,000 employees. After taking over the reins of the company, Chief Executive Officer Bob Iger has made this second layoff plan. Bob Iger also announced a cut in the company’s payroll in February. The chief executive officer had said that through this step the company is trying to save billions of dollars. After the layoffs in February, Disney is once again planning to do the second round of layoffs in April. As of now, no official statement has been given by the company regarding this matter.

The continuous decline in Disney subscribers

According to Disney’s 2021-22 annual report, the company was employing a total of 1.9 lakh people till that year. Out of this, 80 percent of the employees were working full time. It is worth noting that for the first time in the last quarter, Disney’s subscribers have seen a cut. There was a total decline of 1 percent in the total number of customers of the company and the number of customers fell to 168.1 million. On the other hand, talking about Netflix, an increase in the number of users has been registered in the last quarter. In such a situation, Disney had assured its investors to take strict steps to reduce its losses only after the results of the last quarter.

Retrenchment continues in companies

Apart from Disney, many big companies have done several rounds of layoffs in the past. This includes the names of many companies like tech company Google, Microsoft, Twitter, Facebook’s parent company Meta, e-commerce company Amazon. All these companies have fired the staff on a large scale.

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