Entertainment giant Disney has begun its third round of layoffs and is expected to hand over pink slips to over 2500 employees, as per a report.
The Parks and Resorts division, according to reports, will not be impacted this week; however, it is still unknown which division would. The source added that Disney has started eliminating dozens of films from its streaming services this week.
The report read that the television section, which was severely affected by the second wave of job cuts, will only experience a modest number of layoffs. The report also notes that Disney reportedly having a difficult time dealing with the repercussions of the current writers' strike as the latest wave of job layoffs is announced.
After failing to reach an agreement with the Alliance of Motion Picture & Television Producers, which represents firms like Disney and Netflix Inc. in contract negotiations, film and television writers quit their positions at the beginning of the month. They want different working conditions, like a requirement for a certain number of authors every show, as well as increased remuneration. They are also requesting a restriction on the application of AI to scriptwriting.
Rewinding to earlier in April, Disney announced a second round of job cuts that resulted in the corporation eliminating thousands of positions, bringing the total number of layoffs to 4,000.
In the February earnings call, Disney CEO Bob Iger revealed his plans to lay off 7,000 employees from the company's workforce of more than 220,000. Disney was hoping to save billions of dollars through reorganising, reducing content, and reducing payroll.
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