will begin layoff notices this week for more than 7,000 staffers whose positions will be eliminated as part of a deep cost-cutting effort that will be felt across all of the company’s key divisions.
“The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here,” Iger wrote. “That’s part of what makes working at Disney so special. It also makes it all the more difficult to say goodbye to wonderful people we care about.
The mass layoffs reflect the depth of the transformation that Disney and other media companies face amid the difficult transition from analog TV and traditional movies into the on-demand streaming era. One area of Disney employment that is expected to be mostly spared is employees who interact with guests at the company’s theme parks. After the pandemic shutdowns, the resiliency of demand for Disney’s global theme parks has been a vital ballast for the company in turbulent times for Hollywood.
This week, we begin notifying employees whose positions are impacted by the company’s workforce reductions. Leaders will be communicating the news directly to the first group of impacted employees over the next four days. A second, larger round of notifications will happen in April with several thousand more staff reductions, and we expect to commence the final round of notifications before the beginning of the summer to reach our 7,000-job target.
Top executives should take major pay cuts then 🥴
paulosaelias Club 33, where the elite get to have sex with disposable children snatched by state CPS agents. Been a problem for a very fucking long time. But since they pleasure our political leaders we get ordered to stand down.
Kind of like the Monarchy! Probably because DeSantis cut them off at their knees for taxes! Streamlining indeed!
If i ran Disney, i would shut down Searchlight.
:(
I wonder if 'streamlined' also indicates getting rid of 20th Century and its IP?