Disney Suspends Hiring: Layoffs Expected

He has signed many of the prominent films in recent years. Disneyit has Marvel, Star Wars relying on the power of brands such as Disney+ platform was scheduled to start generating revenue in fiscal year 2024.

Disney, which wants to realize this ambitious goal, has stopped all recruitment processes according to the latest news. It is even stated that the company may start layoffs in the near future. before too MetaMany companies, such as Twitter, had parted ways with many of their employees.

Operational costs make Disney think

Disney CEO Bob Chapekin a note shared internally, “To achieve the goal of making Disney+ profitable in fiscal 2024” stated that some cost reduction methods will be implemented. According to this note from CNBC Disney will now restrict recruitment considerably. Its goal will be to stop recruiting altogether. However, for the time being, the necessary critical roles will be recruited. Chapek also noted in the note that some headcount reductions are expected.

Recently Disney+ 4th quarter figures had been disclosed. Although the number of users of the platform increased by 12.1 million, the company’s operating expenses reached $ 1.5 billion. While the company expects the loss of the platform to decrease in the future, the basis of this expectation lies in the fact that the broadcasting platform will be able to attract more subscribers with price increases and Disney+ subscription with ads.

On the other hand, Disney is not the only company that has made large layoffs recently. head of meta Mark Zuckerbergannounced that they would lay off 11,000 employees. Elon Musk He also laid off a large number of employees at Twitter. Amazon has also recently decided to stop recruiting new employees at company offices.