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Disney Layoff: Around 4000 employees might lose their jobs

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.

Edited By: India TV Tech Desk New Delhi Updated on: April 25, 2023 16:56 IST
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Image Source : PIXABAY Layoff at Disney

Disney Layoff: Disney, an entertainment giant kicked off its second round of layoffs yesterday (24 April 2023), which will affect the lives of 4,000 employees working in the company. It has been reported that the entertainment platform has been planning to reduce its workforce by cutting 7,000 jobs which is part of a larger reorganisation that will see the company cut $5.5 billion in costs. 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 has said, "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."

CNBC reported that the upcoming third round of layoffs is expected to start before the beginning of the summer. The jobs affected will span across the country from California, Burbank, to New York and Connecticut.

In a note to employees Jimmy Pitaro, CEO of ESPN said, "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."

Disney further said, "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." 

In February, the entertainment giant announced that it is set to lay off 7,000 employees to cut costs.

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Image Source : FILEDisney
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Bob Iger, CEO of The Walt Disney Company said, "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.

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Inputs from IANS


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