The company will cut about 15% of the staff in the entertainment division.
The Walt Disney Company intends to lay off thousands of workers next week, including 15% of the workforce in its entertainment sector.
All areas where Disney conducts business will be affected by the reduction, including television, movies, theme parks, and corporate jobs.
part of an overall strategy to reduce annual costs
Walt Disney announced in February that it would eliminate 7,000 jobs from its workforce of more than 220,000 people as part of a larger plan to reduce annual spending by $5.5 billion.
The corporation is making changes to the entertainment division as part of this effort and shifting its emphasis away from general entertainment and toward franchised properties and well-known brands.
Disney Entertainment, which was established last year as part of a restructuring, will be impacted by the layoffs. Disney Entertainment is responsible for the production and distribution of the company’s movies, television shows, and streaming broadcasts.