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 officials 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 time, the company can also remove some workers from their jobs to compensate for their 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 released its quarterly results. After this, the company’s shares have registered a huge decline of 13 percent. 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 even after retrenchment in the company, customers will not see any difference in quality.

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

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