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Even Disney in crisis! Plans layoffs

Even Disney in crisis! Plans layoffs

Disney is planning job cuts. The move comes after the company reported disappointing quarterly results, with shares falling to a 52-week low.

"We will look at every avenue to find savings and anticipate some staff reductions," CEO Bob Chapek said in a letter to employees.

Chapek also told the leaders that business trips should be limited to essential trips and that meetings should take place virtually as much as possible.

Disney has about 190,000 employees.