Walt Disney Co will begin a second wave of layoffs on Monday, as it works toward eliminating 7,000 jobs to help save $5.5 billion in costs, according to sources familiar with the matter.

The streaming company has cited "current economic conditions" as the reason for the employee cuts, which amount to about 7% of Roku's workforce.

Layoffs, hiring freezes and slowdowns are plaguing the tech industry, with big tech companies making major announcements or plans this week.

Elon Musk’s transgender child is looking to cut ties with her father in "any way, shape or form" and her mother has indicated that she supports the decision.

Slumping Peloton replaces CEO, cuts 2,800 jobs

Barely a few days after the landmark $71.3-billion takeover of legendary Fox studio, Walt Disney has initiated a layoff exercise in the one-time rival studio.

Computer graphics icon Nvidia (Nasdaq: NVDA) debuted its new cloud gaming hardware, the Nvidia GRID, at CES on Sunday.