After US media and entertainment conglomerate Disney announced last month cutting 7,000 jobs, representing about 3% of its global workforce, this week the company told its managers that the wave of layoffs could continue.
At the end of last year, the entertainment medium had approximately 220,000 jobs, and only in the United States its payroll included some 166,000 workers. However, the company announces again that about 4,000 employees will be laid off in April.
Disney CEO Bob Iger had recently spoken out pointing out that the wave of layoffs is mainly based on the restructuring of the company in order to reduce some expenses. “While this is necessary to address the challenges we face today, I do not take this decision lightly,” he said.
According to Disney’s chief financial officer, Christine McCarthy, the company is also cutting budgets on content and programming and they hope that with restructuring can save about $5.5 billion dollars.
“I have tremendous respect and appreciation for the talent and dedication of our employees around the world, and I am aware of the personal impact of these changes,” Iger said.
The decision on the layoffs was made before Disney’s annual meeting, which takes place the first week of April, where the Hulu entertainment service will also be evaluated, in which it is expected to make a sale of its shares.
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Source: La Opinion