Disney is on its way of having a third wave layoffs. This week the company has notified employees that get the impact of the layoffs. Based on the source telling media, around more than 2.500 staff might lose their jobs due to this wave of layoffs. This marks the last significant round of cuts that previously have been done by Disney CEO Bob Iger. There is still no further information about which divisions get the impact of this round of cuts. Meanwhile, Disney’s spokesperson refused to comment.
The previous two waves of layoffs happened in March and April. The company eliminated around 4.000 jobs. This includes ESPN, Disney’s entertainment division, Disney Parks, and its Experiences as well as Product division. In February this year, Iger announced to the media that the company would cut around 7.000 employees from its global workforce in three waves. It would begin before the beginning of summer. The purpose is to save up $5.5 billion in costs. In this scenario, to attain the figure, they must make up 30% by cutting up the labor. Another 50% the plan that it would come from marketing operations. Then, the last 20% is from the decreased spending on technology, procurement, and other spending.
This third wave of layoffs, which is the latest, is about to bring the total number of job cuts to more than 6.500. This would approach 7.000 figure previously announced by Iger. In October 1, Disney employed around 220.000 employes. It means that if they cut around 7.000 labors, it will reduce around 3% of their global workforce.
