Disney eyes thousands of layoffs, managers asked to cut 20% in costs, Bloomberg News reports
In short
The company is exploring thousands of job cuts to achieve a broader organizational effort aimed at reducing costs. Departmental managers have been instructed to identify reductions of up to 20 percent in operating expenses. These cost-cutting measures are currently under review as leadership examines restructuring opportunities across the company.
Key points
- Substantial staff reductions are currently being considered to significantly lower the co…: Substantial staff reductions are currently being considered to significantly lower the company's operational expenses.
- Internal leadership faces directives to slash budgets by 20 percent across their respecti…: Internal leadership faces directives to slash budgets by 20 percent across their respective corporate divisions.
- Thousands of organizational roles remain at risk as the enterprise evaluates these prospe…: Thousands of organizational roles remain at risk as the enterprise evaluates these prospective downsizing measures.