The Walt Disney Co has begun layoffs of 7,000 people it announced earlier to "streamline" the business and save $5.5 billion, Reuters reported , citing a letter sent to employees by CEO Bob Iger.
A second, larger wave of layoffs will take place in April, when several thousand more employees will be laid off, Eiger said. One of the first to be eliminated is the division responsible for the creation of the metaverse, according to the WSJ news.
Reuters notes that media companies began to cut costs in early 2022, when Netflix lost subscribers for the first time in a decade.
In Russia, due to the departure of foreign companies, about 200,000 people could be left without work in Moscow alone, the mayor of the capital, Sergei Sobyanin, said in April. He suggested using the unemployed for public works, such as parks. About what the withdrawal of foreign companies from the Russian market can lead to and what awaits the Russian economy this year, The Insider wrote here . Since the beginning of the war in Ukraine, almost 1,000 foreign companies have announced restrictions or termination of work on the Russian market. A list of such companies is maintained by a group of Yale University employees led by Jeffrey Sonnenfeld.