Disney To Limit New Hirings. Is It After The Impact Of Recession ?

According to The Wall Street Journal, Disney has been under the loss of 38%, more than the last two year’s combined loss range and has lost the amount of 1.5bn in it’s last quarter.

The giant entertaining platform, The Walt Disney Company is currently influenced by the global recession impact.

The following news was declared by multiple news reports and on this the CEO of the company, Bob Chapek claimed that the company has decided to freeze some job Hirings and cut off some of them due to the last reports which were quite disappointing. He also detailed about his plans in the rest of the memo. The staff reductions has been done to look forward for some savings because of the low performance of the platform from last few quarters. Also the shares of the company fell immensely and reached up to 52 week low on Wednesday, stated by Zee news.

Hirings for critical requirements posts and business drive positions won’t stop but the company will put a stop on little requirements related jobs for a certain period of time. Chapek also said the entire information regarding this decision can be asked by the workers from their respective HR and team members.

Currently, the company is having 1,90,000 employees under it and the following decision was taken under the light of latest company reviews, claimed by the reports.