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The Walt Disney Company has begun a third round of layoffs in which more than 2,500 workers will lose their jobs. The planned cuts will affect most major divisions of the roughly $185 billion company, which was recently split into: entertainment, ESPN and parks and resorts. They are not aimed at a specific section, although parks and resorts will remain largely unaffected, according to Deadline. It comes after Disney CEO Bob Iger confirmed the company's plans for three rounds of layoffs back in March as it tries to achieve savings of $5.5 billion. Disney is slashing its workforce by 7,000...

Disney has begun its third round of layoffs as it reaps the dire consequences of its continued push of woke politics and LGBTQ ideology onto children. Despite objections from the public, the Disney has remained defiant in its stance on LGBTQ and social justice issues as the company begins its layoffs. As The Daily Fetched reported earlier this year, Disney saw a whopping $123 billion wiped from its market value due to its identity politics. In 2022, Disney saw its worst year since 1974, when the company’s stock dropped 54 percent. However, Disney’s future does not hold much hope unless...

Last year’s techwide reckoning continues. In 2023, layoffs have yet again cost tens of thousands of tech workers their jobs; this time, the workforce reductions have been driven by the biggest names in tech like Google, Amazon, Microsoft, Yahoo and Zoom. Startups, too, have announced cuts across all sectors, from crypto to enterprise SaaS. The reasoning behind these workforce reductions follows a common script, citing the macroeconomic environment and a need to find discipline on a tumultuous path to profitability. Still, tracking the layoffs helps us to understand the impact on innovation, which companies are facing tough pressures and who...

The biggest companies in the United States are giving the axe to hundreds of thousands of workers, but this should not come as a shock to any of us. Officials at the Federal Reserve were warned over and over again that they were going to create an extremely harsh economic environment if they aggressively raised interest rates, and that is exactly what has transpired. We haven’t seen a tsunami of layoffs like this since 2008 and 2009, and the outlook for the months ahead is extremely bleak. Many of us warned the Fed that it would be mind-numbingly stupid to...

One month ago, to much dismay and widespread denial, Goldman predicted that AI could lead to some 300 million layoffs among highly paid, non-menial workers in the US and Europe. As Goldman chief economist Jan Hatzius put it, "using data on occupational tasks in both the US and Europe, we find that roughly two-thirds of current jobs are exposed to some degree of AI automation, and that generative AI could substitute up to one-fourth of current work. Extrapolating our estimates globally suggests that generative AI could expose the equivalent of 300 million full-time jobs to automation" as up to "two...

Jenny Craig has alerted employees to potential mass layoffs as it begins “winding down physical operations” and hunts for a buyer, according to communications the weight-loss company sent some staffers this week. The company said it “has been going through a sales process for the last couple of months,” according to a document titled “Jenny Craig Company Transition FAQs” that was dated Tuesday and provided to NBC News. Several Jenny Craig staffers said the company alerted them in recent days about potential layoffs. The FAQ document said: “While we had to issue Warn Notices specifically for sites where we had...

Latest job cuts point to ongoing weakness in tech sector.. SAN JOSE — Hundreds more tech and biotech layoffs have rattled the Bay Area job market, cutbacks that hint the sectors are still wobbly and have yet to shift back into hiring mode. IBM, Accenture, Amplitude and Myovant Sciences are among the most recent companies to reveal staffing cutbacks in the Bay Area, according to documents on file with the state’s labor agency. The most recent layoffs produced a combined total job loss of just over 300 positions in the Bay Area. ... All told, starting in July 2022, tech...

Disney started a second round of layoffs on Monday as the company seeks to save billions in operating costs. The company is expected to cut "several thousand" jobs through Thursday, sources familiar with the matter told Reuters. In February, the company announced in an earnings report that it was planning to trim its payroll by 7,000 employees under a new restructuring plan. Officials told Reuters that 4,000 people have been affected so far, including the latest round of cuts.

Lyft CEO David Risher said Friday the ride-hailing company will “significantly” cut jobs in another round of layoffs to reduce costs, sending its shares up about 4%. The company declined to provide details on the number of affected staff, but the Wall Street Journal reported earlier in the day the move could impact 30% of Lyft’s workforce, or more than 4,000 employees. The decision comes weeks after the newly appointed CEO said Lyft was not for sale, disappointing some investors who had speculated that the exit of the company’s founders would pave the way for a deal and pushed up...

Whole Foods is letting go some corporate employees as part of a planned reorganization of select teams, and as its parent company closely examines costs. Whole Foods plans to reorganize certain global and regional support teams over the next two months, the company’s executive team wrote in a memo to employees on Thursday. As a result, the upscale grocer is laying off several hundred employees from those teams, a spokesperson confirmed. The cuts translate to about less than half of a percent of the company’s global workforce, a Whole Foods Market spokesperson said.

ESPN will begin layoffs early next week as part of parent company Disney ’s cost cutting efforts, according to people familiar with the matter. Cuts will include some on-air talent and management, said the people, who asked not to be named because the discussions are private. The number of layoffs at ESPN is unclear and the decision process is still fluid. An ESPN spokesperson declined to comment. Disney is eliminating 7,000 jobs in three rounds, with the second round happening next week, said the people. The company will also lay off about 15% of the staff in its entertainment division...

The company plans to lay off employees on Wednesday ... In an internal memo posted to a Meta employee message board on Tuesday evening and viewed by Vox, the company told employees that the layoffs will start on Wednesday and will impact a wide range of technical teams including those working on Facebook, Instagram, Reality Labs, and WhatsApp. A Meta spokesperson confirmed the memo was sent to employees but declined to comment further. The cuts could be in the range of 4,000 jobs ... Meta employees in North America will be notified by email between 4 am to 5 am...

Best Buy Co. is cutting store jobs across the country, as the electronics and appliance retailer works to lower costs and shift its business as more sales happen online. This week, many store workers that specialize in selling more complex products such as computers and smartphones, dubbed "consultants" inside the company, were told their jobs would be eliminated, according to people familiar with the situation. The decision affects hundreds of jobs across the more than 900 U.S. stores that Best Buy operates, the people said. The tasks performed by consultants will be moved to a smaller number of similar roles...

McDonald’s Corp.’s restructuring this week is reaching company wide, resulting in hundreds of layoffs and for some employees reductions in their packages, according to people familiar with the matter. Job cuts and changes at the burger chain have affected employees in the U.S. and abroad, at McDonald’s Chicago headquarters and in its field offices, and across departments including marketing and operations, the people said. The corporate restructuring has unfolded in a multipart process this week, some of the people said and internal company communications showed. McDonald’s temporarily closed its U.S. offices and started informing some corporate employees about layoffs on...

NPR employees accused the network’s CEO of racism during a virtual all-staff presentation last week detailing financial metrics and diversity level updates following the organization slashing approximately 10% of its workforce. NPR officials laid off 84 employees last week and halted production on four seasonal podcasts, including Invisibilia, Louder Than a Riot, and Rough Translation. The Wall Street Journal reported network officials would cut another 13 employees from the digital team. Following the exodus from ex-staffers, Lansing and other executives reportedly tuned into a Zoom meeting to address the news department and the programming team, taking questions from employees that...

]Google's finance chief, Ruth Porat, has penned a rare company-wide email explaining how the tech giant is introducing measures to cut employee services in an effort to reduce expenses. The company's goal for 2023 is to 'deliver durable savings through improved velocity and efficiency.'

McDonald's Corp temporarily closing U.S. offices . . . "to inform corporate employees about its layoffs as part of a broader company restructuring"

McDonald’s Corp is temporarily closing its US offices this week as it prepares to inform corporate employees about layoffs undertaken by the burger giant as part of a broader company restructuring, ... McDonald’s said in an internal email last week to US employees and some international staff that they should work from home from Monday through Wednesday so it can deliver staffing decisions virtually, ... During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,” the Chicago-based fast-food chain said

The Disney layoffs have hit ABC News. The broadcast news division has laid off approximately 50 people as part of the company’s planned cuts, with ABC News president Kim Godwin reorganizing her senior leadership team. Godwin announced the changes in a note to staff Thursday morning. “Throughout the company, teams are being impacted by the downsizing that was announced several weeks ago, including our own ABC News family. While these actions are never easy, they are a necessary step to ensure we’re on solid footing for the years ahead as we chart a sustainable, growth-oriented path forward for the entire...

The Walt Disney Co. has laid off multiple high-ranking employees during the first round of its planned job cuts, a move that will reduce the company’s workforce by 7,000 jobs or 3%.So far, Disney has laid off:Isaac Perlmutter, the former Marvel Entertainment chairman. The New York Times reported that Perlmutter’s departure comes after he unsuccessfully tried to help Nelson Peltz, an activist, investor and personal friend, join the Disney board. Perlmutter sold Marvel to Disney for $4 billion in 2009. Rob Steffens, the former co-president of Marvel Entertainment, was also laid off, Variety reported. John Turitzin, the former chief counsel...