Amid Widespread Layoffs Disney Cuts 300 Chinese Jobs
As the Walt Disney Company continues to slash over 7,000 jobs in order to help manage its debt burden, it is not just workers in the United States who are feeling the pinch.
According to reports, Disney has laid off more than 300 employees in Beijing. These employees worked on the company’s streaming services.
Photo: InsideHook
Changes In Streaming
As Disney continues its first wave of cuts prior to next week’s annual shareholder meeting, the company announced that the move in China was “part of the company’s cost-cutting effort and global reorganization.”
Photo: DIsney+
Although streaming continues to be a focal point for Disney’s business model under returning CEO Bob Iger, the company has shifted its focus from subscriber count to profitability.
Photo: Disney+
The latest Chinese layoffs affected employees who were working on features such as personalization, search, and customer identification for Disney’s streaming services.
Disney and China
Disney has long cultivated a friendly relationship with the Chinese government, although tensions have risen in recent years.
Photo: Chip Somodevilla/Getty Images
Following the return of CEO Bob Iger however, relations may be thawing. Recent Disney blockbusters such as Black Panther: Wakanda Forever and Avatar: The Way of Water have been given premiere release windows in the country.
Photo: D23
Interestingly, like other American-based streaming services, Disney+ and Hulu have been denied access to the Chinese mainland.
The First Wave of Layoffs
The news of the Chinese layoffs came on the heels of other high-profile layoffs including Ike Perlmutter, the President of Marvel Entertainment.
Former Marvel CEO Ike Perlmutter (AP Photo/Susan Walsh)
Although the latest round of layoffs has been substantial, insiders say it will be the second round of cuts that will be the deepest.
Photo: The Walt Disney Company
As always, check back in with MickeyBlog. We will continue to bring you updates on the Walt Disney Company layoffs.
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