Disney CEO Bob Iger announced in a memo to employees on March 27 that affected workers would receive notifications within the next four days.
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Disney has announced the first round of cost cutting. 7 thousand jobs will be affected in this round. According to Disney, two senior vice presidents will also leave their posts in this first round. After this deduction, Disney will save more than $ 5.5 billion i.e. 45 thousand crores. Disney CEO Bob Iger announced in a memo to employees on March 27 that affected workers would receive notifications within the next four days. The company has planned the second round of layoffs in April. Due to which several thousand employees will be affected, rest of the affected employees will be informed before summer.
Iger, who will return to the company in November 2022, has been tasked with improving the financial performance of the company. One of his biggest challenges is to make profitable the company’s streaming TV business, which is staring at a loss of over 1 billion in the quarter ending December 2022. Iger has already started restructuring the company.
