Chatting with Disney CEO Bob Iger CNN announced that the company will soon begin staff reductions.
Around 7,000 employees are scheduled to be laid off during the reduction. The layoffs of Disney’s employees are part of a cost-cutting initiative aimed at streamlining the company’s operations during a “time of turmoil” in the media industry.
“The difficult truth about the departure of so many of our colleagues and friends from Disney is not something we take lightly. In difficult times, we must always do our best so that Disney can continue to deliver outstanding entertainment to viewers and guests around the world, now and in the future.” said Eigen.
The layoffs will occur in three phases. The first will begin this week, and soon managers will begin notifying employees who have been laid off. According to Eiger, a second, larger round of layoffs will take place in April, during which several thousand employees will be laid off. Then there will be a third phase of layoffs “before the summer” to meet the company’s planned target of 7,000 layoffs.