The group had reported disappointing quarterly figures.
(Photo: Reuters)
Berlin The US media giant Walt Disney is planning a hiring freeze after disappointing quarterly figures. In addition, some employees are to be laid off in order to control costs, according to a memorandum that Reuters was able to see on Friday. Concrete numbers were not initially mentioned.
The latest quarterly results fell short of analysts’ expectations. The investment costs for building up the streaming business had a negative impact: net income from continuing operations rose just one percent to $162 million.
With the looming economic downturn, other US companies are also cutting jobs. Facebook parent Meta announced on Wednesday that it would cut around three percent of its jobs as part of an austerity program, for a total of around 11,000 jobs.
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