During these past few months, companies like Twitter, Meta, Amazon, Google, and Microsoft have been laying off employees and now Disney and Yahoo are following suit.
Disney and Yahoo layoffs
Robert Iger, Disney’s CEO, stated that as a part of a “significant transformation” Disney (which has 220,000 people, 166,000 in the United States and 54,000 internationally) has cut 7,000 employees, while the search engine company Yahoo will lay off 1,700 people or 20% of its workforce.
In addition, Iger shared that he looked into “every facet of the streaming business” and will work on “aggressively curating the general entertainment content” which includes reassessing local and global content.
The entertainment company’s financial reports show that the theme parks’ steady growth has helped it offset the poor performance of the video streaming venture of the company.
On the other hand, Yahoo’s layoff will mostly be in the not-so-successful business ad tech unit. The department failed to live up to its promises which were confirmed by the search engine company with CBS.
Yahoo says that this decision would “simplify and strengthen the advertising business for the long run while enabling Yahoo to deliver better value to customers and partners”.
Source: Gadget Pilipinas
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