TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Disney lays off 7,000 as streaming subscribers decline
Disney said it was laying off 7,000 employees, as CEO Bob Iger announced a reorganization of the company he returned to lead last year.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
In this file photo taken on November 13, 2019 the Disney+ logo is seen on the backdrop for the World Premiere of 'The Mandalorian' at El Capitan theatre in Hollywood. (AFP/Nick Agro)
E
ntertainment giant Disney said Wednesday it was laying off 7,000 employees, as CEO Bob Iger announced a reorganization of the company he returned to lead last year.
The job cuts follow similar moves by US tech giants dialing back from a hiring spurt that began during the height of the pandemic.
"I do not make this decision lightly," Iger said on a call to analysts after Disney posted its latest quarterly earnings.
In its 2021 annual report, the group said it employed 190,000 people worldwide, 80 percent of whom were full-time.
"We are going to take a really hard look at the costs for everything that we make, both across television and film," Iger said.
"Because things in a very competitive world have just simply gotten more expensive."
The storied company founded by Walt Disney said its streaming service saw its first ever fall in subscribers last quarter as consumers cut back on spending.
More from The Weekender
Jakarta’s padel moment
From FOMO to full-blown obsession, padel has captured the city. What comes next may depend less on courts and more on the communities that grow around them.
The battle over memory
And why the government’s plan to rewrite its history books should alarm us all.
Are younger workers getting something right about work?
As micro-retirements gain traction, Gen Z and young millennials are challenging traditional ideas of ambition, success and when it’s okay to pause.
