Disney Will Begin Firing 7,000 Employees This Week

This week marks the beginning of Disney’s most recent round of layoffs after CEO Bob Iger announced 7,000 job losses at the business as a whole.

The CEO stated that he is creating “a more effective, coordinated and streamlined approach to our business” as part of the $5.5 billion in cost savings that were revealed in February, though it is unclear which departments will be most significantly affected.

Employees will first be informed this week, followed by a bigger round in April and a final round before the summer.

Iger spoke of the “challenges ahead” and said the impending layoffs “is not something we take lightly.” He also asked those who will remain on for their “continued understanding and collaboration during this time.”

The annual shareholders gathering for Disney is set for April 3.

Iger’s memo to Disney staff appears below

Dear Fellow Employees,

As I shared with you in February, we have made the difficult decision to reduce our overall workforce by approximately 7,000 jobs as part of a strategic realignment of the company, including important cost-saving measures necessary for creating a more effective, coordinated and streamlined approach to our business. Over the past few months, senior leaders have been working closely with HR to assess their operational needs, and I want to give you an update on those efforts.

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.

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. 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. I want to offer my sincere thanks and appreciation to every departing employee for your numerous contributions and your devotion to this beloved company.

For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward. I ask for your continued understanding and collaboration during this time.

In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world – now, and long into the future. Please know that our HR partners and leaders are committed to creating a supportive and smooth process every step of the way.

I want to thank each of you again for all your many achievements here at The Walt Disney Company.

Sincerely,

Bob

Disney Will Begin Firing 7,000 Employees This Week

This week marks the beginning of Disney’s most recent round of layoffs after CEO Bob Iger announced 7,000 job losses at the business as a whole.

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