The Walt Disney Co. (DIS, -1.99%) shares fell by 0.4% during premarket trading on Wednesday after Bloomberg reported the media and entertainment company was planning to layoff thousands of workers next week. Bloomberg cited people with knowledge of the situation to say that the job cuts will be made across the board, including 15% of the workforce in the entertainment division. Disney did not respond immediately to a comment request. Disney announced in February it would cut 7,000 jobs to reduce costs by $5.5 Billion. According to its latest annual report, the company employed about 220,000 people as of October 1, 2022. The stock is up 16.2% for the year so far, while Dow Jones Industrial Average Dow Jones Industrial Average is up 2.5%.