Home News Business The process of retrenchment is not ending! Disney will again cut thousands of jobs next week

The process of retrenchment is not ending! Disney will again cut thousands of jobs next week

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The process of retrenchment is not ending!  Disney will again cut thousands of jobs next week

Walt Disney Layoffs: There are clouds of retrenchment in the entertainment industry as well. The process of layoffs is not stopping in Walt Disney Layoffs. The company is again planning to lay off 15 percent of its employees from different teams next week. The company is also going to lay off employees on a large scale from the entertainment division.

Retrenchment will affect these teams

According to the report published in Live Mint, this retrenchment is going to affect people working on TV, film, theme park and corporate positions as well. The company has prepared a list of all those employees, but has not yet made their names public. According to the report, Disney will inform the affected employees by April 24.

Why is Disney laying off?

Disney had announced in February itself that it was going to lay off 7,000 employees. Significantly, the total number of employees in the company is 2,20,000. In such a situation, by laying off 7,000 employees, the company is planning to cut its total expenses by $ 5.5 billion. It is worth noting that in the recent past, a decline in Disney’s income has been registered. The company had a total loss of $ 1.47 billion in November 2022. Since then, its Chief Executive Officer Bob Iger had planned a large-scale layoff in the company. Apart from Disney, Comcast Corp, NBCUniversal, Warner Bros Discovery Inc and Paramount Global have all recently decided to cut costs.

EY is also doing layoffs

Apart from Disney, the world’s leading legal firm Ernst and Young Layoffs has once again decided to lay off employees. The company is going to lay off 5 percent of its total workforce. About 3,000 people will be affected in this. However, the latest retrenchment of the company will not affect the employees working in India. The company is going to do this layoff in America. Apart from companies like Ernst & Young, Disney, many big companies like Meta, Google, Amazon, Microsoft etc. have laid off many rounds of employees to reduce their expenses.

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