Disney will lay off employees again. It plans to cut thousands of jobs

Walt Disney plans to cut thousands of jobs as part of a cost-reduction strategy, aiming to save up to 20% in expenses. The company intends to reinvest these savings into film and television production, technology, and theme parks. This move follows similar actions by other entertainment firms, including Netflix, which announced job cuts last month. Disney's workforce was approximately 231,000 at the end of September 2022, and the company is focusing on reducing costs to secure additional funds for growth investments.