The Clap
Disney (NYSE: DIS) will freeze hiring and cut some jobs on the back of a disappointing fiscal Q4.
The Deets
According to the company, hiring will continue for critical positions, but hiring for other roles will be put on hold.
In addition, Disney is set to evaluate employees and expects staff reduction to its 190,000-employee workforce.
So What
Disney is taking cost-cutting measures following a poor fiscal Q4. The company is looking to limit business travel and will establish a cost structure taskforce to efficiently manage costs.
Now What
Disney is looking to make structural changes that will have both short and long-term benefits for the company.
Despite job cuts, Disney is yet to announce any plans to completely eliminate jobs or departments.
