Entertainment giant Disney is preparing to cut at least 4,000 jobs in April as part of its ongoing restructuring efforts aimed at cutting content and trimming payroll. The layoffs will be proposed by managers who have been instructed to prepare lists of employees to lay off and propose budget cuts. While it remains unclear whether the layoffs will happen in small batches or all at once, Disney’s CEO has announced plans to save billions of dollars over the next few years, with the goal of achieving $5.5 billion in cost savings across the company. Along with the planned job cuts, Disney also revealed a reduction in general entertainment aimed at adults and plans to explore options for Hulu, the streaming service it owns two-thirds of.
Disney has instructed its managers to prepare lists of employees to lay off and propose budget cuts, according to reports. It is not clear whether the layoffs will occur in small batches or all at once, but the company is expected to cut at least 4,000 jobs in April. The news was announced ahead of Disney’s annual meeting, where the company also revealed plans to reduce general entertainment aimed at adults and consider options for Hulu, the streaming service it owns two-thirds of. In February, CEO Bob Iger announced that the company would lay off 7,000 employees as part of a restructuring that aims to save billions of dollars by cutting content and trimming payroll. The company expects to save $3 billion over the next few years, excluding sports, and aims to achieve $5.5 billion in cost savings across the company.
Don’t miss interesting posts on Famousbio
