Walt Disney Company Begins Third Wave of Job Cuts

The Walt Disney Company has started their third wave of layoffs and position eliminations, bringing the total near the 7,000 that Bob Iger announced would occur earlier this year, according to Deadline.

What’s Happening:

  • A third wave of layoffs at the Walt Disney Company reportedly began today, continuing the cuts that were promised by Disney CEO Bob Iger earlier this year.
  • According to reports, the cuts are now expected to impact 2,500 jobs at the company, with no specific division being targeted.
  • Reports also indicate that the parks and resorts division is largely untouched in this round of cuts, as well as the television division, which were hit substantially in the last round of cuts.
  • According to Iger’s announcement of the cuts, this should be the last of the bulk job cuts and layoffs at the Walt Disney Company for a whole, though smaller cuts could still be made in the next couple of months.
  • Back in March, Iger announced a plan that would see three rounds of layoffs and cuts at the company, as they looked to eliminate 7,000 positions.
  • By the end of the second wave, which began on April 24th, the total number of eliminated positions neared 4,000, with the company saying that there would be a third round by summer, which would be those that reportedly started today.
  • Disney announced in February that these cuts (and other measures) would see a savings in $5.5 billion at the company, with ESPN and Parks, Experiences, and Products seeing cuts along with the Entertainment division. No front line workers at the parks are expected to be affected.
  • This wave of cuts also comes amid the ongoing writer’s strike in Hollywood, which has brought many film and TV developments and production (Disney and otherwise) to a standstill.
  • Also in the name of cost-cutting, Disney is also removing dozens of titles from the Disney+ streaming service in just a few days.