Disney has decided to cut 7,000 jobs; said CEO Bob Iger. Within months, those layoffs began at Disney. News Reuters.
Walt Disney Company Chief Executive Officer Bob said, ‘He did not take this decision lightly at all. He has great respect for the skill and dedication of Disney employees around the world.’
The company aims to save $5.5 billion through this process. According to the company’s annual report, this time the number of customers has increased slowly. Disney Pulse subscriptions fell in the first quarter, causing the streaming media unit to lose more than a billion dollars. One percent of users also decreased. The retrenchment process has been initiated keeping these factors in mind.
According to the company’s annual report of 2021, as per the data of October 2 of that year, the number of employees of Disney all over the world is 1 lakh 90 thousand. 80 percent of these workers are permanent workers.
