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Disney Announces Hiring Freeze, Layoffs, Travel Expense Cuts

Started by Epoch-Times-Bot, Nov 12, 2022, 04:32 PM

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Epoch-Times-Bot

Nov 12, 2022, 04:32 PM
Disney Announces Hiring Freeze, Layoffs, Travel Expense Cuts

The Walt Disney Co. appears to be the latest corporation to scale back hiring and spending as the economy cools.
The entertainment giant reportedly announced the changes to senior staff this week after a disappointing quarterly report released Nov. 8 sent stocks plunging to a 21-year low.
An internal memo obtained by CNBC Nov. 11 detailed plans by Disney's CEO Bob Chapek to institute a hiring freeze, cut jobs, and reduce executive expenses.
"We are limiting headcount additions through a targeted hiring freeze," Chapek wrote to division leads, according to CNBC. "Hiring for the small subset of the most critical, business-driving positions will continue, but all other roles are on hold."...

Source: Disney Announces Hiring Freeze, Layoffs, Travel Expense Cuts

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