Walt Disney Co will be starting its second wave of layoffs from Monday through Thursday, as part of the company’s elimination of 7,000 positions to cut $5.5 billion in costs, said Disney officials on Monday.
The second wave of layoffs will include a total cut of 4,000 jobs all across the company’s business segments like Disney Entertainment, ESPN and Disney Park, Experiences and Products, but will spare frontline workers at the parks and resorts.
“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,” said Disney Entertainment co-chairmen, Alan Bergman and Dana Walden in a memo to the staff.
They added “we recognise that it has been a period of uncertainty and thank you all for your understanding and patience.”
Before the large second wave, Disney started notifying it employees on March 27 that they have been affected by the workforce reductions, and a third wave is expected to go into effect before this summer starts.
Disney has been going on with its layoffs since February, as well as a reorganisation that brought back decision making to its creative executives.
