{"id":92509,"date":"2023-04-24T14:53:04","date_gmt":"2023-04-24T14:53:04","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2023\/04\/24\/disney-cuts-more-jobs-as-restructuring-continues\/"},"modified":"2023-04-24T14:53:04","modified_gmt":"2023-04-24T14:53:04","slug":"disney-cuts-more-jobs-as-restructuring-continues","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2023\/04\/24\/disney-cuts-more-jobs-as-restructuring-continues\/","title":{"rendered":"Disney cuts more jobs as restructuring continues"},"content":{"rendered":"
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Walt Disney Co has initiated a second round of layoffs as part of a previously announced restructuring that is expected to result in the loss of 7,000 jobs.<\/b><\/p>\n<\/div>\n

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The media giant is under pressure as its traditional TV and film businesses shrink while its streaming unit continues to post big losses.<\/p>\n<\/div>\n

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CEO Bob Iger announced a $5.5 billion cost-cutting campaign in February.<\/p>\n<\/div>\n

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This week’s cuts are expected to bring the total number of cuts so far to 4,000.<\/p>\n<\/div>\n

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The losses are occurring throughout the company, including at the sports broadcaster ESPN and the film studios. The firm has said frontline workers at the park are not expected to be affected.<\/p>\n<\/div>\n

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The layoffs point to a major pullback in the entertainment industry as executives refocus on profits after years of spending big bucks at many traditional media companies launching streaming platforms and gaining subscribers.<\/p>\n<\/div>\n

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Mr. Iger, Disney’s longtime boss who returned to the company in November after ousting Bob Chapek, said the company needs to streamline its business. <\/p>\n<\/div>\n

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Among other things, the company plans to spend $3 billion less on content.<\/p>\n<\/div>\n

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The 7,000 layoffs announced in February represent about 3% of the 220,000 people the company employed as of Oct. 1. <\/p>\n<\/div>\n

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The company began its job cuts with a first round of notifications to employees late last month.<\/p>\n<\/div>\n

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Another wave of cuts is expected this summer. <\/p>\n<\/div>\n

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The company, which employs more than 50,000 people outside the US, did not respond to a query about how many of the job cuts would affect international employees. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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