Disney’s Next Round Of Layoffs Begin This Week — 4,000 Cuts Expected
As part of the company’s larger plan to cut over 7,000 jobs, Disney will begin its second round of layoffs today.
According to insiders, employees affected by the cuts will be notified through Thursday, and an expected 4,000 job eliminations will be completed by the week’s end.
Photo: The Walt Disney Company
The Disney cuts are expected to hit every aspect of The Walt Disney Company. This will include thousands of jobs cut across Disney Entertainment, ESPN, and Disney Parks, Experiences and Products.
A Third Wave of Cuts is Coming
According to Disney, the third and final wave of cuts is expected to begin before the summer. When completed, the 7,000 layoffs will represent 3.2% of Disney’s total headcount as of October 1, 2022.
Photo: Chip Somodevilla/Getty Images
While the specific job cuts remain unknown, those announcements are expected soon.
“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,” co-chairmen of Disney Entertainment Alan Bergman and Dana Walden said in a memo to staff Monday.
“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.”
Photo: Walt Disney Company
$2.5 Billion In “Non-Content Costs” Savings
Overall, Disney hopes to achieve $5.5 billion in cost savings. Of that $2.5 billion represents “non-content costs.” which includes labor.
At the advent of the first round of layoffs, Bob Iger sent out a memo, which acknowledged the difficult times ahead.
“We have made the difficult decision to reduce our overall workforce by approximately 7,000 jobs as part of a strategic realignment of the company. Including important cost-saving measures necessary for creating a more effective, coordinated and streamlined approach to our business,” Iger wrote.
“For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward.”
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As always, continue to check back in with MickeyBlog. We will continue to bring you updates on all the news surrounding the Walt Disney Company.
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