Disney to lay off 7,000 employees

The Walt Disney Company has started the process of laying off around 7,000 employees. The majority of the cuts will occur in April, according to reports, and will begin this week and continue through the early summer. Budgets for content will be lowered by $3 billion, while other expenses will be reduced by $2.5 billion.
The job losses, which are anticipated to be distributed, are Disney's first significant ones since 2019 when the corporation made thousands of employment cuts following the completion of its acquisition of 21st Century Fox.
Hulu and other channels are among the first to suffer cuts. The creative acquisitions branch was closed, and production activities at Disney TV Studios, Hulu, FX, and Freeform now belong under Carol Turner.
The victims include Jayne Bieber, SVP of production management & operations at Freeform, and Mark Levenstein, SVP of production at Hulu.
The creative acquisitions division of Disney Television Studios, which was established in 2021 to secure the rights to novels, podcasts, and other intellectual property (IP) that ABC Signature and 20th Television might turn into shows for Disney platforms, is also being shut down.