In fact, like the rest of the company, Disney also says that the revenue of the company is continuously losing. In such a situation, the company has planned to do cost cutting. Under the new plan, the company plans to operate with a limited head count and freeze new hiring. Let us tell you that Disney has about 1,90,000 employees worldwide, in which massive layoffs are expected. The company’s CEO Bob Chapek has instructed employees to reduce the number of business trips, so that the company’s expenses can be curbed. Along with this, he has advised the employees to take virtual meetings. He said in the memo that we are going to take tough decisions in the coming days. Everyone should be ready for this. Disney has been facing losses for a long time. The company’s revenue has been the lowest in the last 52 weeks. Earlier, it was also announced by Netflix to reduce its workforce.
Other companies are also laying off
The same news is that retrenchment is also being planned from Amazon. This has been revealed by software engineer Jamie Zhang from a LinkedIn post. Let us know that Meta has announced a reduction of 13 percent or 11,000 people in its global workforce. Apart from this, Twitter and Microsoft have also done massive layoffs.