Disney lays off 7,000 employees

The first thing Bob Iger, who returned to Disney for the second time as CEO in November, did was to cut the workforce. The CEO of the American media giant announced that they started laying off 7,000 employees this week as part of a multi-billion dollar cost-cutting initiative. Those who will be laid off represent approximately 3 percent of Disney's global workforce. Disney has joined the layoffs of dozens of giant companies from Amazon to Google, Meta to Microsoft. Disney, one of the world's largest media companies in the American entertainment sector, is preparing to lay off approximately 3 percent of its global workforce. The first thing CEO Bob Iger, who returned to Disney in November, did was to cut the workforce. Iger announced that they would start laying off staff starting this week, the first of three rounds of workforce cuts. The cuts made to Disney's global workforce are part of a multi-billion dollar cost-cutting initiative aimed at streamlining the company's operations at a time when the media industry is in turmoil. Disney will lay off 7,000 employees by early summer as it seeks to reduce costs The first round of layoffs will begin this week, with executives set to begin notifying affected employees. Disney CEO Bob Iger announced that a second, larger round of layoffs will occur in April, with a third round expected in early summer. “The difficult reality of so many colleagues and friends leaving Disney is not one we take lightly,” Iger said. “In difficult times, we must always do what is necessary to ensure that Disney continues to deliver exceptional entertainment to audiences and guests around the world, now and in the future.” The company has approximately 220,000 employees, including 166,000 in the United States. The layoffs began in November when Bob Iger returned to Disney for a second time after the company’s board of directors ousted Bob Chapek as leader.