Disney Layoff: Now this POPULAR company announces plan to lay off employees and freeze hiring

Walt Disney Co reported disappointing quarterly results and the shares of the company fell sharply in the last few months, hitting the 52-week low on Wednesday.

New Delhi: Production and streaming company Walt Disney Co is also planning to cut some jobs after the company reviews, according to the media reports. In a leaked internal memo, Diseny CEO Bob Chapek is planning to freeze hiring and cut some jobs amid the disappointing quartely results. Disney has approximately 190,000 employees.

“We are limiting headcount additions through a targeted hiring freeze,” CEO Bob Chapek said in a memo. “Hiring for the small subset of the most critical, business-driving positions will continue, but all other roles are on hold. Your segment leaders and HR teams have more specific details on how this will apply to your teams."

“As we work through this evaluation process, we will look at every avenue of operations and labor to find savings, and we do anticipate some staff reductions as part of this review,” the Memo further said. 

Walt Disney reported disappointing quarterly results and the shares of the company fell sharply in the last few months, hitting the 52-week low on Wednesday.

Meta announces one of the biggest layoff

A few days back, Meta CEO Mark Zuckerberg in an internal letter to employees informed that Meta is planning to fire around 11,000 employees globally starting from Wednesday. He further said he is “especially sorry” to choose the last resort as the company’s revenue falling and it is cutting its frivolous spending.