American entertainment giant Walt Disney announced on the 8th that it will cut about 7,000 employees due to a decrease in the number of members of its video distribution service and the need to reduce costs.
Walt Disney announced this at a press conference held on the 8th regarding the financial results from October to December last year.
Against this background, the company said that the number of members of the video distribution service has decreased due to concerns about the economic slowdown, and the business continues to be in the red, so it is necessary to reduce costs. , decided to reduce about 7,000 people.
By reducing these personnel cuts and investment in content, Disney will reduce costs by $5.5 billion, or about 720 billion yen in Japanese yen.
In the United States, since November last year, there have been cases of large-scale personnel reductions, mainly at major IT companies such as the former Facebook meta and Amazon, due to concerns about an economic slowdown, but the entertainment industry has also reduced personnel. movement is beginning to spread.