Disney plans to lay off 7,000 employees - which equates to about four percent of its global workforce.
The mass dismissal is one of several measures in a comprehensive savings package.
The company says that it is about living up to performance and quality targets and that it aims to save approximately SEK 58 billion.
Despite the number of Disney plus subscribers exceeding 160 million, billion losses were reported at the end of 2022. According to the company's own forecasts, the streaming service is only expected to turn a profit in 2024.