Disney not the happiest place on Earth for 7,000 laid off employees as company begins cuts

📆 28/03/2023 15:37:00
📰 WashTimes

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Walt Disney Co. has begun its planned layoff of 7,000 employees, with the first round of cuts having started Monday.

Bob Iger, Disney’s CEO, first announced the job cuts in a February earnings call. The 7,000 layoffs comprise 30% of $2.5 billion that Disney plans to save in noncontent costs.

In a memo sent Monday, Mr. Iger explained the situation to employees, noting that the cuts are projected to be finished by the end of spring.

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