The world’s largest provider of entertainment has started its third round of layoffs and expects to give pink slips to over 2500 workers. The Parks and Resorts division, will not be impacted this week; however, it is yet unknown which division would. The source said that the business has started eliminating dozens of films from its streaming services this week.
According to the report, the television sector, which experienced significant job cuts during the second wave, will only experience a limited number of layoffs. According to Business Today, with this third wave of layoffs, the total number of workers let go will probably exceed 6,500, drawing closer to the 7,000 layoffs that were previously announced.
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The study also noted that media corporations are having a difficult time dealing with the impact of the continuing writers’ strike while this fresh wave of job layoffs is taking place. At the start of the month, film and television writers resigned from their positions after unsuccessful contract negotiations with the Alliance of Motion Picture & Television Producers, an organization that represents companies such as Disney and Netflix Inc. They want different working conditions, such as a need for a certain number of authors for every program, as well as increased remuneration. Additionally, they are requesting a restriction on the use of AI in scriptwriting.
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Returning to Disney, the business had previously in March and April slashed approximately 4,000 positions, bringing the total number of losses to roughly 6,000. Two senior vice presidents who oversaw productions at Hulu and the Freeform network, individually, were among those who lost their jobs in the first round. Additionally, a division that licensed novels, podcasts, and other works for TV series was disbanded. Disney CEO Bob Iger revealed his intentions to reduce 7,000 positions from the company’s more than 220,000-person workforce in February 2023 during the company’s earnings call.