Disney to Begin Mass Layoffs and Freeze Hiring

Disney to Begin Mass Layoffs and Freeze Hiring

“Disney will begin enacting layoffs, implementing a targeted hiring freeze and limiting company travel as part of a sweep cost-cutting move announced to leadership Friday,” Variety reports.

Variety obtained a memo sent to top executives Friday afternoon.

Disney CEO Bob Chapek wrote:

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“I am fully aware this will be a difficult process for many of you and your teams. We are going to have to make tough and uncomfortable decisions. But that is just what leadership requires, and I thank you in advance for stepping up during this important time. Our company has weathered many challenges during our 100-year history, and I have no doubt we will achieve our goals and create a more nimble company better suited to the environment of tomorrow.”

Disney is set

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