Walt Disney has initiated the process of laying off some 7,000 workers, with the aim of generating savings worth 5,500 million dollars (5,100 million euros), the financial agency Bloomberg reported on Tuesday.
The first batch of employees will be notified within the next four days, said the CEO of the multinational, Bob Iger, in a statement to the workers on Monday.
The dismissal of the workers was announced in February this year, the second phase of the layoffs, which will cover a larger number of employees, will take place in April this year, according to Bloomberg.
The last of the workers with whom the company will terminate the contract will receive notice before the summer of this year.
Chief Executive Bob Iger, who returned to Walt Disney in November after 15 years at the helm, outlined plans to improve the financial performance of the world’s largest entertainment company.
Among the goals set by the manager is achieving profitability in Walt Disney’s TV streaming business, which posted losses of more than one billion dollars in the quarter ended December last year.
As a result of the layoffs and restructuring, Disney also announced that it would cease operations in the division that was developing its strategy for the metaverse.
Source: TSF
