Disney starts executing plan of 7,000 job cuts to save $5.5 billion; first round includes two senior vice presidents1 min read 28 Mar 2023, 06:43 AM IST
Walt Disney is expected to have 7,000 job cuts, a key part of a $5.5 billion savings drive the company announced in February.
Disney has started implementing the first round of job cuts as part of a $5.5 billion cost-cutting programme, which is expected to affect 7,000 jobs. The announcement was made by CEO Bob Iger in a memo to employees on March 27, with the first group of affected workers receiving notifications over the next four days. A second round of layoffs is planned for April, affecting several thousand workers, with the remaining affected employees to be notified before summer.
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