Many were excited for the coming of Disney and its streaming services to the Philippines. This tidbit of news was even initially teased through listings on the local job market on LinkedIn. However, several factors have pointed to mass layoffs for Disney and its subsidiary companies. Why is this?

According to Disney CEO Bob Chapek, the company is targeting to “achieve the important goal of reaching profitability for Disney+ in fiscal 2024.” This means that as of now, the streaming service could be operating at a loss that fails to justify further large investments or onboarding of a huge chunk of people to maintain. The company intends to continue hiring for the “most critical, business-driving positions,” but other roles may see a decline in hiring rate for now.

In order to lean out on operational costs, the company also foresees some layoffs which could see a good number of Disney employees losing their jobs within the next few months. This could ease out the bleeding, as Disney’s streaming arm was operating at a loss of an estimated USD $1.5 billion. That certainly isn’t chump change for anyone involved.

How does this affect Filipino consumers? Disney+ continues to ramp up its marketing efforts by recently partnering with GCash for packages and promos. This easier mode of payment could potentially see an increase in subscriber base simply from those who didn’t want to use their cards or curious individuals and families. For those looking for jobs in the Philippine branch of Disney though, these layoffs could open up more slots but there are no guarantees that the company will be taking in new recruits.

However, there is no loss in trying. If this really is your dream company, then apply away!