Cynthia Littleton Business Editor Disney will begin layoff notices this week for more than 7,000 staffers whose positions will be eliminated as part of a deep cost-cutting effort that will be felt across all of the company’s key divisions.
Disney CEO Bob Iger confirmed Monday morning in a memo to employees that the layoffs will come in three waves, starting today.
Iger disclosed the plan to significantly cut Disney’s overhead with massive staff reductions on Feb. 8. The cuts are expected to hit across the board and hit senior management levels as well as lower-level executives. “The difficult reality of many colleagues and friends leaving Disney is not something we take lightly.
This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here,” Iger wrote. “That’s part of what makes working at Disney so special.
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