"The state of the public finances is a significant downside risk to the outlook if the fiscal rules are to be met," the OECD said.
Workers in Disney's casting and development and corporate finance departments will also be affected."We have been surgical in our approach to minimise the number of impacted employees," said a spokesperson. The company also said that no teams will be closed down entirely.
The California-based firm employs 233,000 workers, with just over 60,000 of those based outside the US.Disney owns a host of companies across the entertainment industry including Marvel, Hulu and ESPN.The firm reported stronger than expected earnings in May, with overall revenue of $23.6bn for the first three months of the year. That was a 7% increase from the same period in 2024.
It said the growth was fuelled by new subscribers to its Disney+ streaming service.The company has released a number of new films this year including Captain America: Brave New World and Snow White.
The live action remake of the iconic Snow White animated film did not perform as well as expected at cinemas,
But Disney's latest release, Lilo & Stitch, broke box office records in the US for the Memorial Day holiday weekend.The post also comes just days after a second round of direct peace talks in Istanbul between the warring sides ended without a major breakthrough, although they agreed to swap more prisoners of war.
Ukrainian negotiators said Russia rejected an "unconditional ceasefire" - a key demand of Kyiv and its Western allies including the US.The Russian team said they had proposed multi-day ceasefires in "certain areas" of the frontline in Ukraine, although they gave no further details.
Trump has previously - and repeatedly - said he believes the two sides are making progress, despite ongoing fighting on the frontline and aerial attacks carried out in both Russia and Ukraine.Separately on Wednesday, Putin also had a call with the US-born Pope Leo XIV.