Bob Iger Tells Disney Management To Identify Layoff Candidates Aims to Cut $5.5 Billion
Reports online indicate that management for the Walt Disney Company are being directed to identify layoff candidates as CEO Bob Iger aims to cut $5.5 Billion in Spending.
It is uncertain if Disney will begin layoffs in small waves or cut thousands of employees all at once, but it has been confirmed that Disney will announce at least 4,000 current employees will be out of work sometime in April, according to Business Insider.
Related – Disney Cast Members Fighting Bob Iger’s Four Day Office Work Week Mandate
Bob Iger announced back in February during the Walt Disney Company 1st Quarter 2023 call that Disney would be cutting some 7000 jobs across the company as a cost-cutting measure.
It was reported that Iger would be making a $5.5 billion cut in costs as part of its restructuring process which equates to about 3.2% of Disney’s workforce.
Related – Disney CEO Bob Iger visits Walt Disney World and Thanks Cast Members for Everything They Do!
Back in February, it was mentioned in the Disney First Quarter Earnings call that Bob Iger and Josh D’Amaro got together to discuss expansions at the Disney Theme Parks. Now that Tron Lightcycle Run is complete Disney is looking at the future of Disney World and Disneyland Parks.
Earlier this month at the Morgan Stanley Technology, Media, and Telecom Conference Disney CEO Bob Iger said that Disney has been a little too aggressive with the pricing at the parks and needs to retain the brand value of accessibility.
It will be interesting to see how Disney Balances expansion with cutting cast member jobs.
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