This would be the third wave of layoffs at The Walt Disney Company and it would affect employees in multiple regions, including Latin America
A new wave of dismissals, a total of 2,500 jobs, will be a new step in the restructuring of The Walt Disney Company, part of the recovery plan devised by Bob Iger after his return to the position of CEO.
According to an anonymous source cited by CNN, this third wave will consist in 2,500 layoffs, which are added to the 4,000 of the two previous waves and are just a part of the 7,000 that Iger announced jobs that the company plans to reduce to lower its costs in USD 5,500 million.
Labor cuts account for 30% of this figure, while another 50% comes from marketing operations and 20% from decreased spending on technology, acquisitions and other expenses, according to CNN.
“It was clear that the company needed to be stabilized. It was clear that the reorganization was necessary, and it was also clear that we had to deal with our cost structure for a variety of reasons, whether they were competitive, disruptive or global economic,” Iger said in March, while speaking at the Conference on Technology, Media and Telecommunications from Morgan Stanley.
“We have stabilized, we have reorganized, we have really aggressive cost reduction efforts,” the executive said.