Walt Disney Co. By removing several hundreds of employees through her work films and television, and discounts that confirm the contraction of the entertainment industry has not yet ended.
Employees’ discounts started on Monday and a retreat from employees in marketing, advertising, photography and development, as well as the financial operations of companies, according to the company.
Hollywood has been in a cost reduction mode for several years, with production and employment in a downward cycle. The studios have reduced the number of films they make to enhance profitability, especially with the theatrical presence that is still less than prenatal levels. Meanwhile, consumers cancel cable television subscriptions to broadcasting services, a shift in advertising and distribution revenues for traditional channel operators.
The changes lead to a huge reorganization of the work. Comcast Corp plans to rotate most of the Capital TV channels, including MSNBC, the United States of America and CNBC, by the end of this year. Warner Bros. completed. Discovery Inc. An internal restructuring to separate its studio work and its operations on the cable TV, which may facilitate the withdrawal of the last section. You are expected to expect more discounts in Paramount Global as it follows a merging process with Media Media Media Media Media and TV.
Disney, based in Borbank, California, has evaluated her TV networks including ABC, but eventually decided to maintain assets. The company announced a reduction in February 2023, which canceled 7,000 jobs in an attemptReduceBy $ 5.5 billion. Disney later increased this goal to $ 7.5 billion. The competitors also demobilized thousands of workers.
The latest discounts follow nearly 200 jobs reduction via Disney networks and entertainment television networks in March. In general, the company has canceled more than 8,000 jobs in recent years as it seeks to improve profitability.
The demobilization of workers was reported on Monday for the first time on the deadline for the entertainment industry. Disney had about 233,000 employees at the end of the last fiscal year in September, including 76 % full -time.
Disney shares did not change $ 112.92 at 3:31 pm in New York.
This story was originally shown on Fortune.com
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