Disney kicks off layoffs, 4K employees to be impacted
According to a CNBC report, a third round is expected to start before the beginning of the summer
Entertainment giant Disney kicked off its second round of layoffs on Monday that will affect 4,000 employees.
According to a CNBC report, a third round is expected to start before the beginning of the summer.
Disney plans to reduce its workforce by 7,000 jobs as part of a larger reorganisation that will see the company cut $5.5 billion in costs.
"The senior leadership teams have been working diligently to define our future organisation, and our biggest priority has been getting this right, rather than getting it done fast," the company said in a note to employees.
The second round of cuts will affect Disney Entertainment and ESPN, as well as Disney Parks, Experiences and Products.
The jobs affected will span across the country from Burbank, California, to New York and Connecticut, CNBC reported.
"As we advance as a core segment of Disney, with operational control and financial responsibility, we must further identify ways to be efficient and nimble," ESPN CEO Jimmy Pitaro said in a note to employees.
"This is a time of transition for Disney, and these changes affect everyone, whether or not your role is impacted. We are committed to supporting you through this period and encourage you to reach out to your leader or HR partner with any questions or for guidance, as needed," said the company.
In February, the entertainment giant announced to lay off 7,000 employees to cut costs.
"I do not make this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees worldwide and I am mindful of the personal impact of these changes," said its CEO Bob Iger.