Disney Italy in the red: cuts coming for 66 employees, 27% of the workforce
Disney’s crisis continues in Italy. And to pay the price, in addition to revenues, now also i workers. As explained by ItalyToday, if in September 2022 the employees of the giant on the Peninsula were 222at the end of last year were numerous redundancies announced. Which aggravate an already compromised situation. There is talk of cuts for 60 employees, or 27% of the workforce.
In fact, despite such a long-standing tradition, business in Italy is becoming increasingly marginal and impersonal for the big US company, above all after the recent restructurings which saw the closure of all television channels, all physical storesand the stop to the Home entertainment division.
And in fact, as stated in the 2022 financial statements, which end on 30 September 2022, the revenues directly related to sales of Walt Disney in Italy are steadily declining: 288 million euros in 2019, and then 229 million in 2020, down to 199 million in 2021 and 187 million in 2022. However, it remains a healthy company, with 10.7 million profits in 2022 after 13 million in 2021 , but it is hard to see a strategy. And especially, Disney+ business doesn’t take off: according to the company’s accounts, the revenues of the over the top in Italy remain below 100 million euros per year.
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