After Twitter and Meta, now the sword of retrenchment hangs in this big company, huge losses became the reason

Layoffs News: After the world’s leading social media platforms Twitter, Meta and e-commerce site Amazon, now another big company is going to lay off employees (Layoffs 2022). This company is Walt Disney. The company has completely banned the hiring of new personnel. Along with this, the company is also planning to lay off many employees. Recently, Walt Disney has announced that it has been incurring huge losses for some time.

According to a report by news agency Reuters, on Friday, the company’s chief executive Bob Chapek told top executives that we can take some tough decisions in the coming times. He has decided to stop the process of target hiring in the company with immediate effect. Along with this, he said that in the coming times, the company may lay off some employees to make up for its losses.

Heavy loss to the company
According to reports, according to the quarterly results of Walt Disney, the company has suffered a loss of about $ 1.5 billion. On Wednesday, the company has released its quarterly results. After this, a huge decline of 13 per cent has been recorded in the shares of the company. Chief Executive Bob Chapek further told his officers that the reason for the loss to the company is some big economic factors which are beyond our control. Along with this, he said that despite the retrenchment in the company, the customers will not see any difference in the quality.

Meta, Twitter and Amazon have also done layoffs
Let us tell you that earlier Twitter, Meta and Amazon have also laid off their employees. After Elon Musk’s Twitter takeover, about 50 percent of the employees have been laid off (Twitter Layoffs). Apart from this, Facebook’s parent company Meta Layoffs has also fired its 11,000 employees. After this, Amazon, one of the world’s largest e-commerce companies, has started laying off its personnel with the sound of growing economic recession. The company has completely stopped new hiring and fired all the employees of its robotics division.

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