As part of a previously disclosed plan to remove 7,000 jobs this year, The Walt Disney Co. will be letting go of several thousand workers this week.
According to Disney officials, the most recent employee releases will happen from Monday through Thursday. Between the first and second rounds of layoffs, the corporation will have eliminated about 4,000 jobs altogether.
All business sectors, including entertainment, ESPN, parks, experiences, and products, are seeing job losses. Additionally, the layoffs are taking place in Burbank, California, New York, and Connecticut. Prior to the employment layoffs, the firm stated that it didn’t anticipate any effects on hourly frontline operations positions at its parks and resorts.
To reach the target of 7,000 layoffs, Disney anticipates a third round of job losses to begin before the start of the summer.
As part of an ambitious corporate cost-savings plan and “strategic reorganisation,” Disney CEO Bob Iger had stated in February that the corporation would be eliminating around 7,000 jobs. About 3% of the entertainment company’s global staff would be affected by the job layoffs.
According to Disney, the job cuts are a part of the company’s overall plan to save $5.5 billion in costs. Disney is situated in Burbank.