Disney plans to cut thousands of employees to optimize costs by 20%
The American company Walt Disney Co. plans to lay off thousands of employees as part of a program to reduce annual costs by 20%. This was reported on November 3 by Bloomberg, citing sources.
According to the agency's interlocutors, the company intends to achieve savings not only by reducing staff, but also by reducing other costs. The most significant changes will affect the divisions responsible for theme parks, television channels and film production.
At the same time, Disney CEO Josh D'amaro expects to use part of the released funds to create new content, develop technology, and support theme parks and cruise destinations.
According to Bloomberg, over the past few years, the company has already cut costs by billions of dollars and laid off thousands of employees. According to the results of the last financial year, the number of Disney employees worldwide was 231 thousand people.
Similar measures are being taken by other representatives of the media industry, including Netflix, Sony Pictures Entertainment, as well as divisions of Paramount and Warner Bros. The cuts are taking place against the background of declining revenues for traditional television and a slowdown in the growth rate of subscribers to streaming platforms.
In addition, media companies are facing increasing competition for user attention from social networks and digital services of technology corporations, including Amazon and Apple.
The Business Insider portal reported on October 26 that Microsoft is offering about 60,000 employees to leave at their own request. After massive investments in infrastructure for the development of artificial intelligence and staff reductions carried out this year, Microsoft is offering remaining employees the opportunity to leave to see if voluntary layoffs will help reduce costs.
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