Report: Disney considers layoffs, nearly 4,000 employees at risk of job loss in April
The planned job cuts were announced ahead of Disney’s annual meeting on April 3
Entertainment conglomerate Disney after eliminating 7,000 jobs in February, is now again considering to lay off at least 4,000 current employees in April, reported Business Insider.
For this, the firm has directed managers to propose budget cuts and compile lists of employees that will be laid off in the coming weeks, added the report, citing sources.
Entertainment giant Disney has directed managers to propose budget cuts and compile lists of employees who will be laid off in the coming weeks, the media reported.
It is unclear whether Disney will start laying off employees in small batches or lay off thousands all at once, but the company will announce that at least 4,000 current employees will be laid off sometime in April, reports Business Insider, citing sources.
The planned job cuts were announced ahead of Disney’s annual meeting on April 3.
In February, CEO Bob Iger announced to lay off 7,000 employees as Disney looks to save billions of dollars by restructuring the company, cutting content, and trimming payroll.
Disney expects to deliver approximately $3 billion in savings over the next few years, excluding sports.