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Economics

Disney plans to lay off thousands of employees to reduce costs by 20 percent

According to forecasts, this round of cuts will affect some of the company's sectors more severely.

Disney plans to cut thousands of employees to reduce costs by 20 percent

The media corporation Walt Disney Co plans to cut thousands of jobs.

According to anonymous sources within the company, some managers have been instructed to take measures to save up to 20 percent on current annual expenses. They intend to achieve this goal by reducing staff numbers.

According to forecasts, this round of cuts will have a stronger impact on certain areas of the company. These include theme parks, television networks, and the film studio. Sources say CEO Josh D’Amaro aims to direct the saved funds into movie and television production, technology, and the cruise business.

The company refused to comment on this information for the publication.

For reference, Disney has cut billions of dollars in expenses and laid off thousands of employees in recent years. Employees of major brands such as ABC, Pixar, and ESPN have also faced cuts.

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