BUSINESS

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BUSINESS

Disney to lay off more employees

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Disney cuts again

Disney is set to lay off 4,000 employees next week to cut costs. This will be the second time the company has laid off staff this year.

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Every region

Disney is set to lay off employees across film, TV, theme parks, and corporate positions. Every region where Disney operates will be affected.

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Cost reduction

Disney is terminating roles to reduce operating costs and save $5.5 billion annually. The company had already fired 7,000 staffers in February.

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Streaming slowdown

Disney's streaming business is experiencing a slowdown in subscriber growth. The company wants to make it profitable by reducing expenses and cutting content.

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Disney Entertainment

Disney Entertainment will see 15% of its staff fired. The company is also cutting down general entertainment targeting adults.