Disney stated on Monday that it will begin a second round of layoffs that would eventually affect 4,000 positions across its many departments. The business's section for metaverse strategies and a portion of its Beijing office were also affected by the initial round of layoffs, which were disclosed in March.
The statement is a part of the company's bigger reorganisation, which seeks to cut expenses by $5.5 billion and eliminate 7,000 jobs overall. The reductions will affect around 3% of the company's employees, which stood at nearly 2,20,000 as of October 1, 2022.
The second round of layoffs will impact several corporate divisions, from Burbank, California, to New York and Connecticut, including Disney Entertainment, ESPN, and Disney Parks, Experiences, and Products. Less than 100 jobs, mostly held by off-camera staff, will be eliminated by ESPN, and additional job losses and contract non-renewals are anticipated to follow a talent evaluation.
Co-chairmen of Disney Entertainment Alan Bergman and Dana Walden stated that notifications would continue in various sections of the business over the next few days in a memo to staff that was published by CNBC.
Additionally, they mentioned that each team is at a different stage of the process and that restructuring in different industries would continue for the foreseeable future, with additional effects anticipated before the summer.
Officials from Disney noted that while they do not take the departure of so many coworkers lightly, they are committed to helping staff members throughout this time. They advise those affected to get in touch with their managers or HR partners with any queries or for advice.