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Indian staff worried as Disney plans to cut 4,000 jobs globally by April

This comes after CEO Bob Iger in February's earning call announced that the company will cut 7,000 jobs globally as a part of cost-savings plan and strategic reorganisation

Reports of Disney planning to lay off 4,000 employees have led to rise in fear among its Indian staff and apprehensions about their future in the company.

It is also pertinent to note that these reports have surfaced with the company’s annual meeting less than two weeks away. Earlier, in February’s earning call Disney CEO Bob Iger had announced that the company will cut 7,000 jobs globally as part of its cost-savings plan and strategic reorganisation. 

According to reports, multiple rounds of cuts are being planned by the company. The first round is being targeted for end of March and the second round would follow suit in April. There are also ongoing talks about a third round of layoffs being mulled over by the company.

As per the reports, the job cuts are expected to be spread across Disney’s three divisions — Entertainment; ESPN; and Parks, Experiences and Products.

Disney has reportedly asked managers to make a list of employees who will be laid off in the coming weeks.

Earlier during February’s earning call, Iger had said Disney is embarking on a “significant transformation” that management believes will lead to improved profitability in the company’s streaming business.

"We are going to take a really hard look at the costs for everything that we make, both across television and film," Iger said, explaining the Disney layoffs.

"Because things in a very competitive world have just simply gotten more expensive."

Iger had also announced changes to how executives will operate Disney’s various divisions. Specifically, creative executives will now be responsible for determining what movies, TV series or other content to produce, as well as the marketing and distribution.

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