Site icon Market Research Telecast

Disney Set to Slash 7,000 Jobs in Second Wave of Layoffs

Disney to Lay Off More Employees

Disney, one of the most prominent names in the entertainment industry, has decided to cut more jobs due to the impact of the pandemic. This announcement comes six months after the company laid off thousands of employees in September 2020.

The entertainment giant is among the many companies that have been struggling to cope with the consequences of the COVID-19 outbreak. Theme park closures, movie theater shutdowns, and delays in productions have resulted in a significant decline in revenue for the company.

In an official statement released on March 9, Disney announced that they would be laying off “some salaried and non-union hourly employees” from various departments, including parks, experiences, and products. The exact number of employees affected by the job cuts is still unclear. Still, it is estimated that thousands of workers will lose their jobs in this round of layoffs.

Vive USA to Cut 7,000 Jobs

Vive USA, an e-commerce platform that focuses on beauty and health products, has also announced that they will be reducing their workforce. The company’s decision to cut jobs is in line with their efforts to streamline operations amidst the pandemic.

The online marketplace company is set to cut 7,000 jobs this week, which translates to about 29% of their workforce. The job cuts will primarily affect the company’s customer service team, which is based in the Philippines.

According to Vive USA’s CEO, the company’s shift to digital customer service has made several positions redundant. The job cuts will allow the company to optimize their operations and reduce costs while still providing quality service to their customers.

The Impact of the Pandemic on the Workforce

The COVID-19 pandemic has had a severe impact on the workforce, with many companies forced to layoff employees to cut costs. According to the US Labor Department, around 10 million Americans lost their jobs due to the pandemic, with the unemployment rate reaching a historic high of 14.8% in April 2020.

The pandemic has hit some industries harder than others. The entertainment and hospitality sectors, which rely heavily on in-person interactions, have been among the hardest hit. Companies like Disney and Vive USA have been forced to adapt to the changing times by implementing new strategies, including cutting jobs to survive the economic downturn.

While the vaccine rollout offers some hope for a return to normalcy, many companies and workers continue to struggle in the meantime. The pandemic has brought unprecedented challenges to businesses and employees alike, with many uncertain about what the future holds.

Exit mobile version