Woke Disney completed its third round of mass layoffs last Friday ahead of the Memorial Day holiday weekend, with no fairytale ending for 7,000 workers sent to the exits at the besieged company.
, inbound CEO Bob Iger committed to reducing the Walt Disney Company’s massive debt by laying off as many “cast members” as possible as a way of reducing overheads.
The company still has plans to eliminate more roles internationally over a period of time, according to a source close to the situation, butreports Disney has now concluded the benchmark it set in February, soon after Iger’s return as CEO on the ousting of Bob Chapek.Iger introduced the sweeping a cost-cutting strategy with the first round of staff reductions begun March 27.
Disney is aiming for an annualized reduction of $3 billion in non-sports content costs, expected to be realized over the next several years.
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