Disney to lay off thousands of employees next week

Bloomberg referred to those familiar with the case, citing that Walt Disney company plans a further round of job cuts after retrenchments of 7,000 employees last month. Layoff this time may affect thousands of posts, including the entertainment department.

The job cuts could affect employees in television, movies, theme parks, corporate locations and every region Disney operates, and affected employees will be notified of the job cuts by April 24, according to the report.
Disney began cutting 7,000 jobs last month, the company announced earlier this year, Reuters reported last month.

The entertainment industry has suffered layoffs since its initial enthusiastic embrace of video streaming, with established media companies losing billions as Netflix Inc launched competitors.
The cuts are coming across the company, including at Disney Entertainment, which was created in a restructuring move as the home of its film and television production and distribution businesses.

By Priyanka Bhowmick

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