Disney Layoff: Around 4000 Employees might Loose Their Jobs


Disney Layoff: The upcoming layoffs are expected to start soon and they will be affecting the market across the country from California, Burbank, to New York and Connecticut.

Disney, the world-renowned entertainment giant, has initiated its second round of layoffs on April 24, 2023, affecting 4,000 employees. The company has been planning to reduce its workforce by cutting a total of 7,000 jobs as part of a larger reorganization aimed at cutting costs worth $5.5 billion. The second round of cuts affected Disney Entertainment and ESPN, as well as Disney Parks, Products, and Experiences.

In a note to employees, the company stated that its senior leadership teams have been working diligently to define the future organization of the company, with the highest priority being to get it right, rather than getting it done quickly. CNBC reported that the upcoming third round of layoffs is expected to start before the beginning of the summer, with job cuts spanning across the country from California, Burbank, to New York and Connecticut.

Jimmy Pitaro, CEO of ESPN, stated in a note to employees that as a core segment of Disney, with operational control and financial responsibility, they must find ways to be efficient and nimble.

Disney acknowledged that this is a time of transition for the company, and these changes will affect everyone, regardless of whether their role is impacted. The company is committed to supporting its employees during this period and encourages them to reach out to their leader or HR partner with any questions or guidance needed.

In February, the entertainment giant had announced that it would lay off 7,000 employees to reduce costs. Bob Iger, CEO of The Walt Disney Company, expressed that the decision was not made lightly, as he has enormous respect and appreciation for the talent and dedication of their employees worldwide and is mindful of the personal impact of these changes.

Thanks for reading “Disney Layoff: Around 4000 employees might loose their jobs” from Storify News as a news publishing website from India. You are free to share this story via the various social media platforms and follow us on on; FacebookTwitterGoogle NewsGooglePinterest etc.

Mike Brown
Mike Brownhttps://www.storifynews.com/
Mike Brown is an News Editor at Storify News Times - Understand the Breaking News He is an India journalist lives in California, United States. He has worked at several news networks in his career. He specialises in reporting about editorial, advertising and general management topics for World News Publishing Focus, as well as contributing content to the website.


Please enter your comment!
Please enter your name here

Share post:

Subscribe US

New York
scattered clouds
1 ° C
2.9 °
-2.6 °
68 %
30 %
10 °
10 °
13 °
14 °
5 °


More like this

Taylor Swift and Travis Kelce enjoy a private boat date in Sydney before his departure

Taylor Swift and Travis Kelce seized the moment for...

Exploring the Landscape of Societal Transformation: Entrepreneurship and Social Innovation

A Movement Driving Social Transformation Enactus, the largest learning platform...

Neuralink’s First Human Patient able to Control Mouse Through Thinking, Musk says

On February 20, Elon Musk, the founder of Neuralink,...

Emily Blunt and Cillian Murphy’s Interview Moments That will Make You Laugh out Loud

Emily Blunt and Cillian Murphy interacting during their interview:...