Disney lays off over 300 streaming-focused employees in China, WSJ reports

Disney has laid off over 300 streaming-focused employees in China, The Wall Street Journal’s Jessica Toonkel and Joe Flint report. These layoffs affected technology employees who were working on such features as personalization, search and customer identification for Disney’s streaming services, according to people familiar with the situation. The entertainment company began this week to carry out the first wave of its plan to cut 7,000 jobs. Disney said in a statement that the move in China "is part of the company’s cost-cutting effort and global reorganization." Reference Link