The Walt Disney Company is in the middle of a huge restructuring endeavor. Since late-2022, we’ve seen some big changes both in the Disney parks and on The Walt Disney Company executive board. Lately, it feels like things are changing at warp speed, and now we’ve got another update to share.
Magic Kingdom
Recently, Disney has been under intense scrutiny. CEO Bob Iger’s comments on the future of the Disney brand indicate he has plans to make some big changes, including a large round of layoffs. We’ve already seen 7,000 job cuts announced, and information about who may or may not be impacted. And now we’ve got more news.
According to a Bloomberg report, The Walt Disney Company is planning to cut THOUSANDS of jobs starting next week. Those cuts will include “about 15% of the staff in its entertainment division,” according to some people familiar with the plans. Individuals who spoke with Bloomberg said that the cuts will impact many Disney departments ranging from TV to film to theme parks, and even corporate teams.
©D23
This news comes after CEO Bob Iger announced that job cuts would soon impact about 7,000 jobs across The Walt Disney Company. In March, Disney laid off a team of about 50 members on the next-generation storytelling and consumer-experiences unit, effectively squashing the company’s plans to expand into the metaverse. The continuing layoffs are part of Iger’s strategy to shave about $5.5 billion in annual costs.
©Reuters | Disney CEO Bob Iger
Bloomberg has reported that those impacted by the upcoming layoffs could be notified as early as April 24th. The Walt Disney Company has not publicly commented on the upcoming round of layoffs.
Bob Iger ©Bloomberg
For more information on the recent Disney layoffs, check out our posts below.
- Huge Project CANCELLED at Disney; 50 Imagineers Laid Off
- How Job Cuts Will Impact Disney (And Who Won’t Be Affected)
- “There Will No Doubt Be Challenges Ahead” — Disney CEO Bob Iger Gives Huge UPDATE on Job Cuts
Stay tuned to DFB for more updates.
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Good. The company needs to suffer and burn down to build up with the founders in mind.
It’s unfortunate to hear that people will loose their jobs. This is going to effect a lot of families. I wonder if it’s necessary or if it’s just to increase shareholder profits? Sad.