Streaming platform Disney laid off 7,000 employees as part of cross-cutting measure amid decline in subscribers.
Disney layoffs: Streaming platform Disney laid off 7,000 employees as part of cross-cutting measure amid decline in subscribers. Disney CEO Bob Iger reportedly made the major decision to cut jobs after subscribers to Disney+ saw a decline of one percent to 168.1 million customers on December 31 as compared to the previous three months.
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“I do not make this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees worldwide,” Iger was quoted as saying in a report by news agency AFP.
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Last year, Netflix announced layoffs where over 300 employees lost their jobs. Several major companies including Facebook, Google, Microsoft, Amazon and others have recently laid off thousands of employees amid global economic slowdown.
