Walt Disney Layoffs: Managers given April deadline for these two tasks amid 4k job cuts fear- Know details

© Provided by Times Now walt disney layoffs: managers given april deadline for these two tasks amid 4k job cuts fear- know details

Walt Disney Layoffs: The Walt Disney Company, the world's leading producers and providers of entertainment and information, is mulling cutting around 4,000 jobs in April.

However, Business Insider cites sources saying it is not clear whether these job cuts will happen in small batches or as a single, large-scale event.

Accordingly, Disney had reportedly instructed its managers to propose budget cuts and put together lists of employees to be laid off in the coming weeks. However, the company is yet to respond on the second round of layoff news.

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This comes after entertainment giant Disney laid off 7,000 employees in February for restructuring, cutting content and trimming payroll. Company’s CEO Bob Iger had said the move is “necessary to address the challenges we’re facing today”.

“I do not make this decision lightly… This reorganisation will result in a more cost-effective, coordinated and streamlined approach to our operations and we are committed to running our businesses more efficiently, especially in a challenging economic environment. In that regard, we are targeting $5.5 billion of cost savings across the company,” the CEO had said.

According to the report, Disney also announced a cut in general entertainment aimed at adults and that it is considering what to do with Hulu, the streaming service that specialises in general-entertainment shows and is owned two-thirds by the entertainment company and one-third by Comcast Corp.

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The planned job cuts were announced ahead of Disney's annual meeting on April 3.

Recently, The Walt Disney Company also announced that it will celebrate its 100th anniversary on October 16, 2023, with a unique commercial debuting during Super Bowl LVII that highlights its storytelling and creativity, reported Business Today.

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