Disney has begun its second round of layoffs, which is expected to affect 4,000 employees across the country, according to a report by CNBC. This is part of the company's larger reorganization plan to cut costs of $5.5 billion and reduce its workforce by 7,000 jobs. A third round of layoffs is also anticipated to begin before the summer.
Disney's note to employees stated that the company has been working hard to define its future organization and ensure it is done correctly rather than quickly. Affected employees will be from Disney Entertainment, ESPN, and Disney Parks, Experiences, and Products. CEO of ESPN, Jimmy Pitaro, highlighted the need to be efficient and nimble as they transition into Disney's core segment.
The company emphasized its commitment to supporting its employees through this period and encouraged them to reach out to their leaders or HR partners for guidance. In February, Disney announced that it would lay off 7,000 employees as part of its cost-cutting measures.
