layoffs at walt disney

New Delhi:

The fear of recession in the world is gradually creating such fear that the phase of layoffs is going on in tech companies.

After this, now the world's largest entertainment company Walt Disney Co has also made preparations for retrenchment.

The company's CEO Bob Iger (CEO Bob Iger) has said that the company is going to take several tough steps to cut costs and bring the company into profit.

Walt Disney CEO Iger says that through this layoff, the company will save $ 5.5 billion in costs.

The company believes that this will make Disney's streaming business profitable.

With this thinking, CEO Iger has announced a restructuring plan.

Under this plan, Walt Disney will lay off 7000 people.

For information, let us tell you that this number is only 3 percent of its total workforce.

CEO Bob Iger told investors in a conference call that according to his plan, he will cut the budget of films and TV shows by $ 3 billion and the rest will be done from non-content areas.

According to CEO Bob, a billion dollar savings plan is already underway.

CEO Bob Iger says that according to the plan the company will be divided into three divisions.

First- Entertainment unit, which includes their main TV, film and streaming business.

Second - ESPN Sports Network and third - Theme Park Unit, which includes Cruise Ship and Consumer Products.

Bob Iger believes that the purpose of this restructuring in the company is to improve profits.


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