Disney plans to layoff at least 4k in April

Entertainment giant Disney is expected to layoff about 4,000 employees in the next month, but whether it will be in small batches or lay off thousands all at once is unclear, reported Business Insider, citing sources.

The report also showed that Disney is planning on minimising its budget, as the company has disclosed salary cuts during its announcement of Q1 revenues in February.

According to CNBC, the company is seeking to save billions of dollars by restructuring the company, decreasing the content, and the salaries.

Christine McCarthy, Disney chief financial officer, stated that the restructuring is expected to save $5.5 billion, as decreasing the salaries will save $1.5 billion, while the sport content will reduce around $3 billion.