Disney's next layoff bloodbath to axe thousands of jobs in every region it operates
Disney layoffs are part of company's cost-saving efforts
Walt Disney Co. is set to eliminate thousands of jobs next week which will reportedly include about 15 per cent of the Disney staff in the company's entertainment division.
The job cuts would entail people employed in Disney's TV and film divisions as well as the employees in theme parks and corporate positions, Bloomberg reported while citing people familiar with the matter.
The latest Disney job cuts will affect every region where Disney operates, Bloomberg report added. Some affected workers will be notified as early as April 24, it said.
Earlier in February, Disney announced 7,000 job cuts as part of its cost-cutting measures to save $5.5 billion in its annual costs.
The job cuts would significantly reduce headcount at Disney Entertainment, which includes the company's movie and TV production, streaming and distribution businesses. Disney Entertainment was created as part of Walt Disney's restructuring process this year itself.
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As the streaming industry's focus shifts to operating online video platforms, major players such as NBC Universal, Warner Bros and Paramount Global too have reduced their head count.
In November, the current Disney CEO Bob Iger returned to lead the company after a $1.47 billion quarterly loss in the company’s streaming business that resulted in the removal of another Bob of Disney: Bob Chapek.
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