India
Disney has initiated another round of job cuts, targeting employees across its film, television, and finance departments. This comes amid mounting pressure on the company, as viewers continue to shift from cable TV to streaming platforms.
Back in 2023, Disney implemented massive layoffs, eliminating nearly 7,000 jobs as part of a plan to reduce expenses by $5.5 billion. This time, the company has set an even steeper cost-cutting goal — $7.5 billion — sparking concerns over the scale of layoffs that may follow.
What’s surprising, however, is that Disney reported stronger-than-expected revenue in May. In the first three months of this year alone, the company earned $23.6 billion, a 7% increase compared to the same period last year.
Despite rising revenue, Disney continues to reduce costs, citing technological shifts and restructuring as key reasons. The company currently employs around 233,000 people worldwide, including 60,000 outside the U.S.
This marks the fourth round of layoffs at Disney in the past 10 months, and experts believe this latest wave will particularly impact the television division.
Meanwhile, Microsoft has also announced another layoff, following the termination of 6,000 employees last month. The tech giant has now let go of an additional 300 employees, with pink slips already sent out. Microsoft has been aggressively focusing on artificial intelligence, and in doing so, has been streamlining other divisions for nearly a year and a half.
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