Disney Begins Job Cuts With Goal of Eliminating 7,000 Positions
- Second round begins in April, with the third by summer
- Management is seeking $5.5 billion in savings overall
Walt Disney Studios in Burbank, California.
Photographer: Eric Thayer/BloombergThis article is for subscribers only.
Walt Disney Co. has begun the first of what is expected to be 7,000 job cuts, a key part of a $5.5 billion savings drive the company announced in February.
The first group of employees will be notified over the next four days, Chief Executive Officer Bob Iger said in a memo to staff on Monday. A second, larger round will happen in April, impacting several thousand workers. The last of the affected workers will receive notice before summer.