Disney showed 7,000 people the way out of the company, this is the reason for the layoff!

Disney Layoff: The wave of retrenchment is increasing rapidly, every day some or the other company is announcing large scale plans to throw thousands of its employees out of the company. Tell that now the entertainment company Disney Has also announced that the company is going to sack 7 thousand employees soon.

With this decision of Disney, 7 thousand people working in the company may have to lose their jobs soon. Big companies around the world are not able to come out of the economic recession, due to which companies are firing people on a large scale to reduce expenses.

Disney Layoff i.e. the decision to go to the jobs of 7 thousand employees in Disney has been taken by the CEO of the company, Bob Iger. Remind that he was handed over the command of the company only in December 2022 last year.

reason for layoff

Let us tell you that a reduction of 1 percent has been seen in the subscribers of Disney Plus, after this reduction, by December 31, 2022, the total subscribers of the company were reduced to 168.1 million. Let us tell you that the company has suffered a huge loss of $ 1 billion from October to December.

Let us tell you that it is also a challenging thing for Disney Plus that in December, there was an increase in the number of Netflix users, while the company lost its subscribers.

Let us tell you that instead of laying off people, Netflix has taken several steps to stop password sharing among users to rein in expenses. With this step of the company, there is an increase in the subscriber base.