New wave of layoffs: Disney, Boeing to cut 9,000 jobs, Meta to cut mid-level managers

Amid the expected economic crisis, Disney and Boeing also joined the ranks of companies cutting their employees. The former plans to cut about 2,000 employees; the latter plans to cut 7,000.

Boeing

U.S. company Boeing plans to cut about 2,000 employees in 2023.

According to the Seattle Times, the layoffs will mostly affect employees in the finance and human resources departments. Instead, the company plans to hire more production workers and engineers, which management says will contribute to Boeing's significant growth this year, especially in the Puget Sound region.

Some of the functions of the laid-off employees will be transferred to Tata Consulting Services in India.

Disney

Media conglomerate Disney is also planning a major restructuring that will result in the loss of 7,000 jobs, or about 3.6 percent of the company's global workforce. According to company executives, it will save $5.5 billion.

The Guardian reports that during the release of the financial report, CEO Bob Iger presented the company's cost-cutting program to investors. According to the report, the company's net income is $1.28 billion, below analysts' forecast of $1.43 billion.

Meta

Meta Platforms is laying off 11,000 people, about 13% of the corporation's workforce. Now, it turns out, mid-level managers may also be laid off, who will be asked to either switch to specific job duties or leave the company.

According to Bloomberg, instead of leading and supervising, many middle managers are now being asked to write code, design, conduct research, etc. Some Meta employees think these changes are necessary and the right thing to do, since they say the company has several teams dealing with similar problems, as well as managers who supervise only one or two employees.

Layoffs were recently announced by Pinterest, Miro, Splunk, eBay, IBM, Lam Research, NetApp, PayPal, 343 Industries, Unity Software, Microsoft, Amazon, Tesla, Micron Technology, Xiaomi, HP, Vimeo and many other companies.