Disney is laying off several thousand workers across the company this week in the second and largest wave of cuts as part of the media giant’s previously announced plan to slash its workforce by 7,000 employees. The latest round of job cuts will impact ESPN, Disney’s entertainment division, Disney Parks, and its Experiences and Product division as part of a larger workforce reduction plan announced in February by chief executive Bob Iger in an aim to save $5.5 billion in costs, the company said.
The latest round of layoffs comes after an initial wave last month, and will bring the total number of jobs lost across the company to 4,000, it said. The layoffs, however, are not expected to affect hourly frontline employees at Disney’s theme parks and resorts. A third and final wave of layoffs to reach the 7,000 total is expected before the beginning of summer, the company said.