Disney is having tough times now
Bob Iger, the CEO of Disney, announced that the comapny is starting to lay off employees this week. The dismissal will be realized in 3 rounds and this week is the first round following the announcement in February. The company is to discharge 7000 employees. Soon the managers will notify the “victim” employees.
The second wave will take place in April and it is believe to come with much larger layoffs. Several thousands staff members will have to quit their jobs. The third round of layoffs is planned to occur before this summer.
The CEO mentioned that the decision of such big-scale layoffs was not an easy one to make. Disney is having tough times now and they need to ensure the entertainment of their visitors and audience.
As of October 1, Disney had over 220,000 employees (166,000 in the USA). This shows that the cut of 7000 employees is 3% of their whole labor force.
The plan of the cuts was developed following Iger’s return to Disney in November. The company board had fired the former leader Bob Chapek.