Disney has reportedly laid off around 7,000 employees, as previously announced by CEO Bob Iger earlier this year. The latest round of layoffs occurred on Friday, primarily affecting the media department with only a few in the park resorts.
According to sources familiar with the matter, Disney plans to continue reducing its workforce globally in the future. However, this is expected to be the final round of layoffs under Iger’s leadership, who returned as CEO after Bob Chapek’s departure in November.
The first wave of layoffs took place on March 27 as part of Iger’s goal to cut expenses by $5.5 billion upon his return as CEO. This recent wave follows another announcement in April, bringing the total layoffs to 4,000.
The reported 7,000 job cuts account for approximately 3.2% of Disney’s global workforce, which stood at 220,000 as of October 1, 2022. The amount also includes $2.5 billion in “non-content costs,” including employee layoffs, which Disney’s CFO Christine McCarthy disclosed to investors in February.
During the initial announcement, Iger expressed gratitude and respect for the hard work of Disney employees worldwide. He emphasized the need to closely evaluate all aspects of their entertainment production due to increasing costs in a competitive industry.
Disney representatives have not yet responded to requests for comment on the recent layoffs.
