Several tech companies throughout the world have declared layoffs in 2023. Not just small and mid-sized businesses, but even tech giants such as Amazon, Meta, Google, Microsoft, and others, have decreased their staff dramatically. The unpredictable economy and COVID-19 pandemic tailwinds, according to most corporations, are compelling them to make these cost-cutting decisions. The Walt Disney Company has also announced 7,000 job cuts.
With these layoffs, Disney’s freshly reinstated CEO, Bob Iger, is “restructuring” the corporation. The latest job layoffs were described by the entertainment conglomerate as an endeavour to save $5.5 billion in expenditures and make its streaming business viable. These layoffs are anticipated to represent 3.6% of Disney’s global workforce. However, the job news boosted the company’s stock, which rose 4.7% to $117.22 in after-hours trade.
Irish Samachar English News
Kindly click the link below to join WhatsApp group chat to get important news and breaking news from Irish Samachar.