Walt Disney Company begins 7,000 layoffs

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 86%

Business News News

Business Business Latest News,Business Business Headlines

Several major divisions of the Walt Disney Company will be impacted by the job cuts.

LOS ANGELES, USA – Walt Disney Company on Monday, March 27, began 7,000 layoffs announced earlier this year, as it seeks to control costs and create a more “streamlined” business, according to a letter chief executiveSeveral major divisions of the company – Disney Entertainment, Disney Parks, Experiences and Products, and corporate – will be impacted, according to a person familiar with the matter.

They started to rein in spending when Netflix posted its first loss of subscribers in a decade in early 2022, and Wall Street began prioritizing profitability over subscriber growth. “The difficult reality of many colleagues and friends leaving Disney is not something we take lightly,” Iger wrote, noting that many “bring a lifelong passion for Disney” to their work.

Many had expected cuts to fall heavily on the Disney Media and Entertainment Division, which was eliminated in a corporate restructuring. The unit has been without a leader since the exit of Kareem Daniel in November, shortly after“It’s been a long time in the making,” said SVB MoffettNathanson analyst Michael Nathanson, adding that the company first began “to whisper” about the need to take out costs last fall, when Bob Chapek was still Disney’s chief executive.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

seems the go woke, go broke cliche is proven correct

seems the go woke, go broke cliche is proven correct

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ammunition, suspected IEDs dug up in Henry Teves company compoundSuspected improvised explosive devices (IEDs) and ammunition were dug up in the compound of a company led by former Negros Oriental Governor Pryde Henry Teves.
Source: gmanews - 🏆 11. / 68 Read more »

AI chatbot company Replika restores erotic roleplay for some usersAI chatbot company Replika is restoring erotic roleplay for some users, Replika CEO Eugenia Kuyda said late on Friday. The company&039;s recent removal of adult content, featured in a
Source: inquirerdotnet - 🏆 3. / 86 Read more »