Disney to begin first round of mass layoffs this week as 7,000 cuts await

Disney CEO Bob Iger has announced that the entertainment company is set to begin its first round of mass layoffs this week. Two more rounds of cuts are expected in the next couple of months.

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Iger has stated that the layoffs are essential to streamline business operations and create a more effective approach. This move comes after 7,000 jobs were announced to be cut in February, with the restructuring of the company’s main entities: Disney Entertainment, ESPN, and Parks, Experiences, and Products.

A second round of layoffs, expected in April, is set to be “larger” than the first and will contain “several thousand” cuts. The third and final round is expected to take place at the beginning of summer, achieving the 7,000 job target.

Iger acknowledges that there will be challenges ahead for employees, including those unaffected by the cuts, as the company continues to build the structures and functions required for future success. He asks for ongoing collaboration and understanding during these tough times. Iger’s recent announcement follows his return as CEO in November 2020.

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It has also been announced that Iger intends to step down after serving two years in his second stint as Disney’s leader.