Hold onto your Mickey Mouse ears, folks, because we’ve got some exclusive and updated news about the third wave of layoffs at Disney. According to sources, over 2,500 jobs across the company are estimated to be affected by the cuts. While Parks and Resorts seem to be mostly untouched, no particular division is safe from the pink slips this time around. However, we hear that television, which was hit hard in the second round, will largely be spared this time.
But don’t worry, this is expected to be the last of the significant layoffs at Disney for a while, following the timeline of cuts that CEO Bob Iger confirmed back in March. Although, there may still be some smaller cuts in the next couple of months, according to sources.
In case you missed it, the first wave of layoffs began on March 27, with Iger confirming the plan for three rounds of layoffs as the company looks to reduce its workforce by about 7,000 employees. The second and largest wave began on April 24, bringing the number of eliminated positions to 4,000. And now, the third wave is upon us.
It’s not just Disney feeling the effects of the ongoing writers strike, as media companies across the board are facing challenges in film and TV development and production. But Disney revealed last February that it expects to realize $5.5 billion in cost savings as a result of the layoffs and other austerity measures.
So, while it’s not all sunshine and rainbows, we can take comfort in knowing that no frontline operational workers at the company’s theme parks are expected to lose their jobs. And hey, maybe we’ll even see some new and exciting changes as a result of these cost-cutting measures. Only time will tell.
