Perhaps nobody can deny the tremendous success of Disney. Back in 2020 alone, for instance, the company generated a revenue of $65 billion. But even so, Disney is preparing for a big wave of job cuts that will take place in the near future.
According to Bloomberg, Disney is preparing to get rid of thousands of jobs in a matter of days – the drastic maneuver will take place next week, as the company aims to get rid of jobs from sectors such as film, TV, corporate, and theme park.
7,000 jobs at Disney will be eliminated
If you have a job at Disney, you should definitely worry. The company revealed since a few months ago that it’s aiming to get rid of 7,000 jobs, and it’s getting closer and closer to that goal. That means that 7,000 people will remain jobless, but the measure most likely won’t affect the company’s revenue. That’s because the total workforce of Disney consists of over 220,000 people. In other words, there are plenty more fish in the sea.
As you’ve probably already guessed, the goal of getting rid of some of the employees has to do with finance. The upcoming move is part of a strategy to cut a few billion dollars in annual costs.
In a nutshell, how can the huge success of Disney be explained? It’s actually quite simple! Let’s remind ourselves about the company’s ability to create beloved characters and franchises, such as Marvel, Mickey Mouse, or Star Wars. Sure, a lot of Star Wars fans had a problem with Disney getting involved in their favorite franchise, but you know what they say that it’s impossible to please everyone in life.
The media networks segment of Disney, meaning ABC, ESPN, as well as other channels, represent the company’s largest source of revenue. Resorts and parks come next in line.