The Walt Disney Co. will begin its second round of layoffs Monday as part of its previously-announced plan to eliminate 7,000 jobs across its company.
What You Need To Know
- Disney started its second round of layoffs Monday, which will result in thousands of job cuts
- Officials say the cuts will impact multiple business divisions, including Disney Entertainment, ESPN and Disney, Parks, Experiences and Products
- Disney previously said the layoffs would not impact hourly frontline workers at its theme parks
- RELATED: Disney to begin 1st round of layoffs this week, CEO Bob Iger tells employees
Disney will cut thousands of jobs this week, with notifications going out to affected employees Monday and continuing through Thursday, a Disney official confirmed with Spectrum News.
The cuts will hit multiple business segments across the company, including Disney Entertainment, ESPN and Disney Parks, Experiences and Products. However, the company has previously said it does not expect cuts to affect hourly frontline workers at its theme parks.
Disney officials say the cuts will span across the country, from Burbank, Calif., to New York and Connecticut.
In February, Disney CEO Bob Iger announced a plan to cut thousands of jobs as part of a strategy to slash $5.5 billion in costs. Iger also unveiled a plan to restructure the company into three divisions — Disney Entertainment, ESPN and Disney Parks, Experiences and Products — and return decision-making to the company’s creative executives.
The first round of layoffs began in March, with the company cutting an undisclosed number of jobs. Among the cuts was the 50-person unit working on its “metaverse” strategies, the Wall Street Journal reported.
By the end of the week, Disney is expected to cut about 4,000 jobs. A third round of cuts is expected to begin before summer to reach its 7,000 target.
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