More layoffs are incoming for The Walt Disney Company after CEO Bob Iger announced that around 7000 employees will lose their jobs starting this week. These layoffs were first announced back in February 2023, and will affect 3 percent of the company.
CNN reported that Disney’s global workforce will face job cuts as part of the company’s cost-cutting initiative in the hopes of streamlining the company’s operations. Iger released an internal memo to staff members, stating that this is a “difficult reality” that the company will face and that it has to do what’s required so “Disney can continue delivering exceptional entertainment to audiences.”
“The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world – now, and long into the future.”
It was reported that there will be three rounds to the pending layoffs. The first will begin this week when managers will notify affected employees. The second round will begin in April, when a majority of affected employees will leave the company. And the final round will begin around the summer of 2023, with the goal of eliminating 7000 jobs. It’s currently unknown which departments will be affected, but it was reported previously that the Parks and Resort Division will be lightly affected.
Prior to the layoffs, The Walt Disney Company had over 200,000 employees.
