Disney has laid off over 300 streaming-focused employees in China, The Wall Street Journal’s Jessica Toonkel and Joe Flint report. These layoffs affected technology employees who were working on such features as personalization, search and customer identification for Disney’s streaming services, according to people familiar with the situation. The entertainment company began this week to carry out the first wave of its plan to cut 7,000 jobs. Disney said in a statement that the move in China "is part of the company’s cost-cutting effort and global reorganization." Reference Link
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on DIS:
- Is the Metaverse Still a Thing? DIS, MSFT, and META Aren’t Sure.
- Disney lays off Marvel Entertainment chairman Ike Perlmutter, NYT reports
- Disney eliminates metaverse unit, cutting 50 jobs, WSJ reports
- Walt Disney (NYSE:DIS): Layoffs Time Bomb Starts Ticking
- Disney to begin layoffs this week, CNBC reports