Disney announces round of layoffs
Even the entertainment giant, The Walt Disney Company, is feeling the impact of the economic crisis. An official memo sent to all employees by new CEO Bob Iger has confirmed that a round of 7,000 layoffs will begin this week as part of a strategic realignment of the company.
More layoffs to come
This is not the end of the cuts, however. Disney is planning an even larger round of layoffs in April, which will see a total of 7,000 employees let go by June. It is worth noting that front-line workers in Disney parks will not be affected by these job cuts.
The impact on different business areas
These layoffs will affect different areas of the company, including Disney Entertainment, ESPN, and Disney Parks, Experiences and Products. While most areas will be impacted, demand for theme parks has fortunately strengthened following pandemic-related closures, so fewer cuts will be made to this division.
A difficult time for all
CEO Bob Iger acknowledged that these are difficult times for all those who remain employed by Disney, but thanked those leaving for their dedication. He also reaffirmed the quality of the company’s “talented and dedicated employees in the world.”
Job cuts across multiple industries
Disney is far from alone in making large-scale layoffs. Other companies that have recently laid off thousands of workers include Microsoft, Amazon, and Meta.
