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Disney prepares to reduce the workforce and to freeze new hires: this is what can be deduced from a note from CEO Bob Chapeck viewed by CNBC. So even the multinational based in Burbank is preparing to follow in the footsteps of other companies operating in the video streaming services sector – see Netflix with last summer’s layoffs -, forced by an ever deeper economic crisis which is leading to a downsizing of personnel and a generalized cost cut.
The expenses will be examined first, explains the CEO, then they will be evaluated “some staff reductionsAfter all, Disney’s streaming division is in the red, as confirmed by the latest financial data in which they are reported losses of $1.5 billion due to rising costs of production, infrastructure and marketing.
The Disney Plus, Hulu and ESPN+ services that belong to the Group have recorded an increase in users (now 236 million), a result however not sufficient to allow the company to change course.
On the other hand, the situation of Netflix is of the opposite sign which, despite having fewer subscribers than Disney (223 million), is still able to be profitable. However, Bob Chapeck is convinced that Disney + will go into profit starting from 2024 thanks to the increase in the price of the subscription and the introduction of the economic plan with advertising ($ 7.99 per month).
In recent weeks there have been several layoffs and personnel downsizings in the tech sector: the cases of Meta, Twitter and Amazon in particular have caused a stir.
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