‘Shrinking’: Disney Announces MASSIVE Job Cuts
Disney is implementing significant job cuts, particularly within its television division, as the company grapples with declining viewership, box office failures, and losses from its streaming service, Disney+.
“Eventually, the company said approximately 175 employees, or 14 percent, would be getting layoff notices on May 21 as it scales back the development of original streaming series,” one report noted.
“This followed a previous announcement that Disney would be slicing $5.5 billion in the coming year, along with thousands of layoffs. However, Iger said there were no further plans to cut jobs at that time,” the report added.
Disney is implementing significant job cuts, particularly within its television division, as the company grapples with declining viewership, box office failures, and losses from its streaming service, Disney+.
“Eventually, the company said approximately 175 employees, or 14 percent, would be getting layoff notices on May 21 as it scales back the development of original streaming series,” one report noted.
“This followed a previous announcement that Disney would be slicing $5.5 billion in the coming year, along with thousands of layoffs. However, Iger said there were no further plans to cut jobs at that time,” the report added.