According to the reports this year would be a ‘bloodbath’ for Disney employees as Disneys Second Round of Layoffs, the studio began this week after firing thousands more employees.
Solid Financial Footing
Disneys Second Round of Layoffs thousand more employees will be fired this week as a part of the second of three rounds of company-wide layoffs. The move is meant to get the entertainment giant back on solid financial footing. Its second round will affect around 4000 employees and the third round will be started before the beginning of summer. As a part of the reorganization plan, Disney has decided to reduce its workforce by 7000 so that the company can see a $5.5 billion reduction in costs.
“The senior leadership teams have been working diligently to define our future organization, and our biggest priority has been getting this right, rather than getting it done fast,” as reported by the higher authority of the company.
In addition to Disney Entertainment, ESPN, Disney Parks, Experiences and Products will be affected by a second round of cuts. The unemployed workers belong to Burbank, California, to New York and Connecticut, etc.
Disney’s Second Round of Layoffs
Time for Transition
In February, the entertainment giant, Disney announced laying off of 7000 employees, Disneys Second Round of Layoffs in order to cut costs. This is a time of transition for the company and these changes will leave serious impacts on everyone. The company is committed to supporting its employees during this tough period and encouraging them to maintain balance in company culture.
“As we advance as a core segment of Disney, with operational control and financial responsibility, we must further identify ways to be efficient and nimble,” ESPN CEO Jimmy Pitaro said in a media statement.
Disney CEO Bob Iger has announced that the company will begin the first of three rounds of Disney is laying off 7000 employees this week, as part of a multibillion-dollar cost-cutting initiative aimed at streamlining its operations.