Disney is readying some aggressive cuts this week.
According to a report from The Daily Wire, The Walt Disney Corporation and its CEO Bob Iger are preparing to cut 7,000 jobs this week —the first of three major cuts planned by Disney.
From The Daily Wire:
The longtime executive announced last month that the company would dismiss 7,000 workers as part of a “strategic realignment” meant to reduce costs. The layoffs expected this week will precede a “larger round of notifications” next month and a final round “before the beginning of the summer,” Iger said in a memo obtained by The Hollywood Reporter.
“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,” Iger told employees. “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.”
Disney stock rose slightly on news of the cuts but remains down more than 30% over the last year.
More over at The Daily Wire:
Disney Will Begin Mass Layoffs This Week, CEO Announces https://t.co/HMokTqYng1 pic.twitter.com/kjYHpYhObD
— Daily Wire News (@DailyWireNews) March 27, 2023
