Layoff: Disney will also lay off four thousand employees, the big reason came to the fore.

Entertainment industry giant Disney is planning to lay off four thousand employees. According to media reports, the company has instructed its managers to identify the employees to be retrenched. The company will do this layoff in April. However, it is not yet clear whether the retrenchment of employees will be done in small groups or four thousand jobs will be lost at once. Disney’s annual meeting is to be held on April 3. It is believed that the retrenchment may be announced in this meeting.

Company will save seven billion dollars

Disney is cutting its budget as part of the restructuring and that is why such a large number of employees are being laid off. The entertainment company is also considering its streaming service Hulu. There are reports that the company may also cut its streaming service business. Earlier, the company’s CEO Bob Iger announced in February that Disney would lay off seven thousand employees. This will save the company about seven billion dollars. Along with reducing the content, the company is also planning to cut the salary of the employees.

There will be mass layoffs in Meta as well.

Let us tell you that in recent times many companies have announced layoffs. These include the name of Meta, the parent company of the social media platform Facebook. Meta is planning to lay off around 10,000 employees. Already before this, Meta has fired about 11 thousand employees. Communication technology company Zoom has also made a plan to lay off 15 percent of its employees. Under this, the company is laying off 1500 employees.