Some of the impacted Disney workers will reportedly receive their pink slips as soon as April 24.
The layoffs are expected to hit jobs across Disney’s global business, which was reorganized into three segments in February – one called “Disney Entertainment” that includes its film, TV and streaming assets, one for sports media giant ESPN and one for the Mouse House’s theme parks and experiences.
Perlmutter was ousted after an unsuccessful effort to shake up Disney’s board of directors, though he remains a major shareholder.as “a necessary step in the direction of us creating a more efficient company.” Of the $5.5 billion in savings, about $3 billion is tied to spending cuts on non-sports content, while $2.5 billion is linked to reductions to operational costs.
The Disney boss said a third and final wave would occur “before the beginning of the summer to reach our 7,000-job target.”“For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward,” Iger said in the memo.
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