Disney will also lay off thousands of employees around the world.
Disney has announced an ambitious plan to save $5.5 billion a year. It starts with the dismissal of 7,000 employees worldwide.
Not even Disney is immune to the specter of recession. The Mickey Mouse empire has announced it will be laying off 7,000 employees worldwide in the immediate future, in a bid to slash overhead costs and free up more resources to accelerate streaming growth (with Disney+, meanwhile, meeting challenges). difficulty).
Disney is just the latest in a large list of US companies that have announced the layoffs of thousands of employees, even though the bulk of the announcements, to date, have come almost exclusively from tech companies. And, in fact, the most illustrious cases concern Twitter, Amazon, Google, Meta and Microsoft.
It must be said that with investments in platforms such as Disney +, Hulu and ESPN + , but also with the interest shown in the metaverse and in new interactive experiences to bring inside theme parks, Disney too has exposed itself to many of the difficulties that today weigh on the Big 5 of Silicon Valley.
Disney CEO Bob Iger has announced that the layoffs are the first step in the direction of total savings that, according to the company’s ambitions, could reach 5.5 billion dollars a year. All the company’s services will soon be divided into three macro-divisions, always with the aim of making the company more efficient and less expensive. They are Disney Entertainment, ESPN and Disney Parks .
Meanwhile, Disney + begins to show the first difficulties. The overwhelming growth (and beyond all expectations) of the beginnings has stopped: subscribers have dropped from 164.2 million to 161.8 million in the space of just over two months.