Disney starts third layoff round
Disney is starting its third layoff round for the year, by notifying 2,500 employees that are likely to be impacted by the job cuts throughout the week, starting on Tuesday.
The third layoff wave is expected to be the last round, as previously announced by Disney’s CEO, Bob Iger. The three waves target cutting 7,000 jobs to cut costs by $5.5 billion.
The first two waves of layoffs took place in March and April, cutting off 4,000 jobs at ESPN, Disney’s entertainment division, Disney Parks, and Disney’s Experience and Product division.