While ‘Quantumania’ awaits its Disney Plus release, Disney lays off 4K employees in second round of cuts

The biggest problem facing Disney fans right now might be the mystery of when Marvel’s latest, Ant-Man and the Wasp: Quantumania, is finally going to arrive on streaming. However, for Disney employees, it’s a very different story. The company has kicked off its second round of mass layoffs this Monday, meaning the total figure of employees let go this year will rise to 4,000. And this still only marks phase two out of three of the studio’s plan to cut costs.

Shortly following veteran CEO Bob Iger’s return to the head chair, replacing his successor/predecessor Bob Chapek, the headline-grabbing strategy was announced back in February. The first wave of layoffs began that same month, with the most notable being long-term Marvel Entertainment chairman — and Kevin Feige’s former boss/nemesis — Ike Perlmutter. A third wave is set to take place before summer arrives, thereby bringing the complete figure up to 7,000.

Company officials have stated that notifications will be handed out to the relevant staff through Thursday, bringing the current number of layoffs up to 4,000 in just a few short days. Employees across Disney Entertainment, ESPN, and Disney Parks, Experiences, and Products, as well as in locations such as Burbank, New York, and Connecticut, are believed to be hit the hardest at this juncture. Once the full sweep is done, Disney will have removed 3.2 percent of its global staff, which accounted for around 220,000 as of Oct. 2022.

Co-chairman of Disney Entertainment Alan Bergman and Dana Walden had the following to say in a staff memo:

“These are hard decisions and not ones we take lightly – but every decision has been made with considerable thought, and we are doing everything we can to make sure this process is conducted with respect and compassion. The senior leadership teams have been working diligently to define our future organization, and our biggest priority has been getting this right, rather than getting it done fast. We recognize that it has been a period of uncertainty and thank you all for your understanding and patience.”

These layoffs comprise just one part of Iger’s aims to reduce Disney’s spending by a hefty $5.5 billion, which may explain his recent indication that he plans to shrink down even the Marvel Cinematic Universe.