Disney began its second, larger wave of layoffs Monday, bringing total job cuts in recent weeks to 4,000 when the latest round is completed.
Earlier this year, Disney said it would slash 7,000 jobs from its workforce as part of a larger reorganization of the company that will see it cut costs by $5.5 billion. The announcement was made during Bob Iger’s first earnings call since returning as CEO.
Disney officials said Monday that they don’t take the departure of so many colleagues lightly. Eliminating 7,000 jobs from its workforce equates to about 3% of the roughly 220,000 people Disney employed as of Oct. 1, according to a securities filing, with roughly 166,000 in the U.S. and about 54,000 internationally.
Disney notified employees of a first wave of layoffs on March 27, which saw cuts in its metaverse strategies unit and part of its Beijing office.
“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,” reads a note to employees Monday from co-chairmen of Disney Entertainment, Alan Bergman and Dana Walden.
The second round of cuts, which will be completed Thursday, will affect various divisions across the company, including Disney Entertainment and ESPN, as well as Disney Parks, Experiences and Products. The jobs affected will span across the country from Burbank, California, to New York and Connecticut. CNBC reported last week layoffs would soon commence at ESPN.
ESPN is first eliminating off-camera employees in the three rounds of cuts and will do a separate talent evaluation over the summer, which will conclude in additional cuts and non-renewals of contracts, one of said a person familiar with the matter. ESPN is eliminating less than 100 jobs in this round, the person said.
“As we advance as a core segment of Disney, with operational control and financial responsibility, we must further identify ways to be efficient and nimble,” ESPN CEO…
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