'Disney Begins Third Round Of Planned Layoffs' - Deadline
Portfolio Pulse from Benzinga Newsdesk
Disney has initiated its third round of planned layoffs, affecting around 700 employees across various divisions. This is expected to be the last significant round of layoffs, with smaller cuts possible in the coming months. Disney aims to achieve $5.5 billion in cost savings through these layoffs and other austerity measures.
May 22, 2023 | 6:42 pm
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Disney's third round of layoffs is expected to affect 700 employees across various divisions, with the company aiming for $5.5 billion in cost savings.
The layoffs may have a short-term negative impact on Disney's stock price as investors may perceive this as a sign of financial distress or operational challenges. However, the cost savings achieved through these layoffs could improve the company's financial position in the long run.
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