LOS ANGELES, Feb 8 (Reuters) - Walt Disney Co (DIS.N) on Wednesday announced a sweeping restructuring under recently reinstated CEO Bob Iger, cutting 7,000 jobs as part of an effort to save $5.5 billion in costs and make its streaming business profitable.
The layoffs represent an estimated 3.6% of Disney's global workforce.
(CNN) — Zoom on Tuesday said it will lay off about 1,300 employees, or approximately 15% of its staff, becoming the latest tech company to announce significant job cuts as a pandemic-fueled surge in demand for digital services wanes.
New York(CNN) — Boeing plans to cut about 2,000 white-collar jobs in finance and human resources, and it will be shifting some of that work to an outside contractor in India.
FedEx is cutting more than 10% of its officers and directors, CEO Raj Subramaniam announced Wednesday, as the company slashes corporate jobs to cut costs amid cooling consumer demand.
"Unfortunately, this was a necessary action to become a more efficient, agile organization. It is my responsibility to look critically at the business and determine where we can be stronger by better aligning the size of our network with customer demand," Subramaniam said in a letter to FedEx team members.
Dan Schulman, CEO, Paypal speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.
Adam Galacia | CNBC
PayPal on Tuesday announced plans to lay off 2,000 employees, or around 7% of its workforce, according to a release posted to the company's website.
President and CEO Dan Schulman wrote in the release that PayPal is working to address the "challenging macroeconomic environment." He said the company has made progress focusing resources on core priorities and rightsizing its cost structure, but that there is more work to be done.
