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Disney plans job cuts, hiring freeze in a cost-cutting drive

Disney CEO Bob Chapek is predicting “some staff reductions” once the company reviews its spending. It will also reportedly freeze most hiring, only bringing on new employees for the most critical positions.

The company is tightening its belt in other ways, too, with Chapek’s memo telling employees to conduct business meetings virtually when they can to cut down on travel expenses.

[Via]

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