Disney reportedly begins first round of layoffs as part of plan to cut 7,000 employees
Disney will begin the first of three rounds of layoffs this week, according to a report by Deadline on Monday.
CEO Bob Iger reportedly sent a memo to Disney employees about the start of layoffs that will cut about 7,000 employees starting this week, with another round coming in April and a third round over the summer.
“In difficult times, we must always do what is necessary to ensure Disney can continue to deliver exceptional entertainment to audiences and guests around the world – now and long into the future,” Iger wrote in the memo. , according to Deadline.
It is unclear which areas of the business will be affected by the layoffs. Sources told Deadline Disney Parks, the Hulu streaming service and other areas of entertainment such as ESPN could be affected by cuts.
Iger returned to Disney as CEO in November after the ousting of Bob Chapek. In February, Iger said the company planned to reduce its workforce.
Layoffs have hit tech companies the hardest in recent months. MicrosoftMeta and Amazon laid off thousands of employees in 2022 and announced further cuts for 2023.
Disney did not immediately respond to a request for comment.