The tech world is going through a tough time with falling sales and revenue, and many companies are reducing their workforce as a cost-saving measure.
Twitter, Facebook’s parent company Meta, Amazon, Google and Microsoft announced the layoffs, and now Disney and Yahoo have also issued similar announcements.
Disney CEO Robert Iger as part of “significant transformation” 7,000 people will be laid offYahoo’s approx. 1,700 peopleannounced that it will lay off 20% of its workforce, equivalent to 1,000 of them, which will be parting ways early next week.
Disney employs 220,000 people, of which 166,000 are in the US and 54,000 are international. iger, “every aspect of the publishing business” including reviewing and re-evaluating local and global content in general. “aggressively improving general entertainment content” He said he would work on it.
Financial reports revealed that the theme parks’ solid growth has managed to offset sluggish performance in the video streaming business for the entertainment company.
Speaking of Yahoo, nearly half of the layoffs will be in the unprofitable job ad tech unit. The company confirmed to CBS that the episode failed to live up to expectations. In the statement, this move “in the long run it will enable Yahoo to deliver better value to customers and partners while simplifying and empowering its advertising business” expressions have been added.