Layoffs In Entertainment Industry Walt Disney Begins To Cut 7000 Jobs

Walt Disney Layoffs: The Walt Disney Company has started laying off 7000 employees on Monday. Earlier this year, the company had announced layoffs of these employees. Reuters had informed about this citing Bob Iger’s letter. The company has decided to lay off employees to control costs and streamline its business.

Walt Disney will lay off its employees from many departments. It has been said in the report that people will be affected by the company Disney Entertainment, Disney Parks, Experience and Product and Corporate Section. At the same time, ESPN can also be included in the deduction. Although it has not been included in this list yet.

Crisis in the entertainment industry too!

Heavy losses are being seen in the entertainment industry. Many companies have started laying off employees. These media companies have suffered loss of billions of dollars. For this reason companies have started cutting their expenses. Many companies have even cut the salary of the employees.

When will there be layoffs from Walt Disney

The CEO of Walt Disney said that before the first group of employees are laid off, those employees will be informed. The first sorting will happen during 4 days. And the second retrenchment will happen in April. Several thousand employees will be fired in this. He said in his letter that the final round of selection would be done before the start of summer.

The entertainment group announced in February that it would lay off 7,000 employees to save $5.5 billion in costs. Since then, there were many discussions that Disney could lay off more employees. However, now it has become clear from the CEO’s letter that when and how often the company is going to lay off. Let us tell you that companies like Amazon, Meta and Microsoft have retrenched employees in the second round.

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