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.
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