The Walt Disney Company confirmed this Monday Continues with staggered layoffs of 7,000 employees, roughly 3% of the workforceunder a $5,500 million (5,095 million euro) cost reduction plan announced last February.
At the end of March, the company’s top executive, Bob Iger, sent a message to his employees that the layoffs would begin effectively.
In statements gathered by private media, Walt Disney’s top executive assured that the second round of layoffs will begin this Monday. Once completed, it will have laid off a total of 4,000 workers.
The manager had already announced that layoffs would be reported to a second group of workers in April, with the latest contract terminations to be notified to those affected in early summer.
“We made a difficult decision” Reduce our global workforce by approximately 7,000 jobs as part of a strategic reorganization of the companyIncorporating key cost-saving measures necessary to create a more efficient, coordinated and streamlined approach to our business,” Iger said at the time.
Lost subscribers
Disney announced the layoffs in February, coinciding with its quarterly results. Due to the loss of 2.4 million subscribers Disney+ streaming service.
After the first round of cuts were announced, it became clear that one of the affected departments was the metaverseIt had 50 workers and was liquidated, as reported by The Wall Street Journal at the time.