Entertainment conglomerate Disney is likely to layoff 4000 employees in April. According to Business Insider, the firm has instructed its managers to propose budget cuts and prepare a list of employees who would be laid off.
This comes after the company sacked 7000 employees in February for restructuring, cutting content and trimming payroll. The company’s CEO Bob Iger in February said that the move was “necessary to address the challenges we’re facing today”.
Apart from this, Disney has also announced a reduction in general entertainment aimed at adults. It is also considering its options over what to do with the streaming service Hulu. Hulu is owned two-thirds by Disney and one-third by Comcast Corp.
This comes ahead of Disney's annual meeting on 3 April.