Disney Continues, Company-Wide Layoffs .<br />On April 24, Disney began a second wave <br />of layoffs as part of the company's larger <br />reorganization efforts to cut costs by $5.5 billion.<br />CNBC reports that the latest round of layoffs <br />will bring the total number of jobs cut to 4,000.<br />Earlier in 2023, returning CEO Bob Iger <br />announced plans to reduce Disney's workforce by <br />7,000 employees during his first earnings call.<br />7,000 jobs is equal to about <br />3% of the roughly 220,000 people <br />employed by Disney as of October 1.<br />According to the company's securities filing, <br />Disney employs approximately 166,000 in<br />the U.S. and another 54,000 abroad.<br />CNBC reports that employees <br />were first notified of the <br />upcoming layoffs on March 27.<br />The senior leadership teams have <br />been working diligently to define our <br />future organization, and our biggest <br />priority has been getting this right, <br />rather than getting it done fast, Alan Bergman and Dana Walden, co-chairmen <br />of Disney Entertainment, via CNBC.<br />CNBC reports that the latest round of layoffs will <br />impact various divisions across the company, <br />including ESPN and Disney Entertainment.<br />CNBC reports that the latest round of layoffs will <br />impact various divisions across the company, <br />including ESPN and Disney Entertainment.<br />As we advance as a core segment <br />of Disney, with operational control <br />and financial responsibility, <br />we must further identify ways <br />to be efficient and nimble, Jimmy Pitaro, ESPN CEO, via CNBC.<br />We will act with compassion, <br />respect for our colleagues, <br />and professionalism as we face <br />these hard circumstances, Jimmy Pitaro, ESPN CEO, via CNBC.<br />We will act with compassion, <br />respect for our colleagues, <br />and professionalism as we face <br />these hard circumstances, Jimmy Pitaro, ESPN CEO, via CNBC
