On Monday (March 27), Variety, the main Hollywood trade publication, revealed that the Walt Disney Company (Walt Disney Company), the world’s entertainment industry giant. It will start announcing redundancies of more than 7,000 people within this week.
Disney CEO Bob Iger It was confirmed through a memo to employees on Monday morning (March 27) that the announcement of the layoffs of 7,000 people will be divided into 3 rounds, including the first round within this week. second round in April and the third round by early summer
Iger said Disney made the difficult decision to cut its entire workforce. This is part of a strategic change that encompasses key cost savings necessary to create more efficient, coordinated and agile business practices.
Disney announced 7,000 layoffs worldwide on February 8, representing about 3.2 percent of Disney’s 220,000 global workforce.
Disney is targeting cost reductions of $5.5 billion, including $3 billion in content costs. The Walt Disney Company is a US company. The latest major company to announce massive redundancies in recent months.
Variety pointed out that the massive layoffs reflect the sea change Disney and other media companies are facing amid a difficult transition away from analog TV and traditional movies. To the age of streaming content according to audience needs.
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