Lagatar24 Desk
New Delhi,Feb 9: To reduce costs across the board, Disney intends to terminate 7,000 employees. The mass media and entertainment company revealed on Wednesday that it intends to restructure its workplace and eliminate positions in order to cut costs. Immediately following the company’s announcement of the most recent quarterly profits was the crucial decision.
Disney is adopting tough measures in the midst of a “difficult economic environment,” much like the turmoil at other digital firms in the US and around the world. According to reports, Disney began the cost-cutting and layoff strat
With his return, the business has already begun making some important organisational adjustments, including the choice to reduce the number of employees.
Disney’s quarterly earnings were reported in an official release, and the business reported a similar decrease in subscriber growth to Netflix, a competitor. The fact that Disney Plus, a streaming service, only attracted 200,000 customers in the US and Canada, bringing its total to 46.6 million subscribers, contributed to the tension. The streaming service added 1.2 million more subscribers internationally, excluding Hotstar. While this was happening, its other platforms, Hulu and ESPN Plus, had a minor increase in the number of customers, adding 800,000 and 600,000 new members, respectively.
