Disney Layoffs 2023: What to Know About the Next Round of DIS Job Cuts

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Disney (NYSE:DIS) layoffs are a hot topic among traders on Wednesday as the entertainment company prepares a new round of job cuts.

According to recent reports, Disney is planning to cut thousands of jobs after completing its restructuring. Sources claim that this includes a 15% reduction in headcount at its newly-created Disney Entertainment division.

Disney Entertainment handles several bits of the company’s business outside of its theme parks. That includes streaming, film and television production, as well as distribution. It’s worth mentioning that DIS just cut 7,000 jobs back in February.

Outside of that, sources claim that workers across operations around the world will also be included in the Disney layoffs. Insiders claim that affected employees will be notified about the job cuts by April 24.

What’s Behind The Disney Layoffs?

Disney, like many large companies, has been dealing with the ongoing effect of inflation. That includes rising interest rates and reduced consumer spending. That is one of the factors that has likely led to today’s Disney layoffs news.

These layoffs also come after Disney’s prior CEO Bob Iger returned to lead the company. He took the reigns to train up a new replacement after the company’s streaming business incurred a $1.47 billion loss.

DIS stock is down 2.3% as of Wednesday morning but is still up 10.8% since the start of the year.

Investors looking for more of the most recent stock market news will want to stick around!

We’ve got all of that news ready to go with the latest stock market stories for Wednesday! Among that is what has shares of Rivian Automotive (NASDAQ:RIVN), Meta Platforms (NASDAQ:META), and Bed Bath & Beyond (NASDAQ:BBBY) stock in the news today. We’ve got all that news to go with the links below!

More Wednesday Stock Market News

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• BBBY Stock Alert: Bed Bath & Beyond Soars as Investors Bet Against Bankruptcy

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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