Walt Disney is reportedly exploring a fresh round of cost-cutting measures that could put thousands of jobs at risk, with certain managers asked to identify opportunities to reduce annual expenses by 20 per cent. Citing people familiar with the discussions, Bloomberg reported that the proposed savings could involve workforce reductions as well as cuts to other operational expenses.
\n\nThe potential restructuring comes at a challenging time for the entertainment giant, which is dealing with several business pressures. These include the expanding role of artificial intelligence (AI), underwhelming box-office performances, growing competition in the streaming industry and declining international visitor numbers at some of its theme parks.
\n\nWhile the proposed reductions may extend across different business divisions, the impact is unlikely to be uniform. Some operations could face deeper spending cuts than others as Disney evaluates its cost structure.
\n\nAccording to the Bloomberg report, Disney has asked select managers to work towards achieving 20 per cent in annual cost savings.
\n\nThe proposed reductions are expected to come from multiple areas, including employee-related expenses and other business costs. However, the company has not indicated that every department will face the same level of cuts.
\n\nThe exercise forms part of a wider effort…
Original source: https://www.timesnownews.com/business-economy
