Disney and Yahoo to have layoffs
Tech industry has been having so many layoffs recently and now Disney and Yahoo also joined the game.
With declining sales and income, the tech industry has been bleeding for a while. Huge layoffs take place, leaving many people unemployed. After Microsoft and Twitter, Disney and Yahoo will also huge layofss.
Disney and Yahoo to have layoffs
Tech industry has been having hard time due to coronavirus and shortage problems for a while. Amazon, Google, Microsoft, Twitter, Facebook's parent company Meta, Amazon, Google, and now Disney and Yahoo have all announced layoffs. Disney CEO Robert Iger announced 7,000 job cuts as part of a "major transition," while Yahoo will lay off around 1,700 workers, or 20% of its staff, 1,000 of whom will leave as soon as next week.
220,000 people work for Disney, with 166,000 of them in the US and 54,000 working abroad. Iger said he investigated "all aspect of the streaming business" and will "aggressively curate the general entertainment content," including reevaluating local and international content generally. Financial reports showed that the entertainment company's mediocre performance in the video streaming market was more than offset by the theme parks' strong growth.
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