Cheryl McCloudBrevardCounty
Will some of the pixie dust blow away over the coming weeks as the Walt Disney Co. begins to lay off 7,000 employees?
The company's CEO, Bob Iger, reportedly said in an internal memo Monday the company would notify employees in three rounds, beginning this week with the firstimpacted workers, according to Axios, CNN and CNBC.
A larger round of layoffs will come in April, with several thousand more staff reductions. The final round will come before the beginning of summer, CNBC reported.
Disney's 'significant transformation': Company to cut 7,000 jobs despite revenue growth
Disney cutting 7,000 jobs:The Walt Disney Co. will reportedly begin layoffs this week
What about a cruise?5 things to know about new Port Canaveral cruise ship, including why locals can't sail
Why is Disney laying off employees?
The companysaid in Februaryitwouldcut around 7,000 jobsas part of a company transformation.
Disneysaid the job cuts were part of a plan to save $5.5 billion companywide.
Reducing the company's workforce is part of a "strategic realignment of the company, including important cost-saving measures necessary for creating a more effective, coordinated and streamlined approach to our business," Iger said.
What Disney divisions will be affected by the job cuts?
Watch TRON Lightcycle Run roller coaster at Disney World
Riders exiting TRON Lightcycle/Run at Disney World's Magic Kingdom can get a close-up view of what they experienced on the ride's outside portion.
Britt Kennerly, FLORIDA TODAY
The job cuts will hit Disney’s media and distribution division, parks and resorts, and ESPN, according to CNBC.
The media and entertainment giant said in February it will be made up of three divisions:
- Disney Entertainment, which is made up of most of its streaming and media operations
- An ESPN division, which includes the TV network and the ESPN+ streaming service
- A Parks, Experiences and Products division
Will there be layoffs at Disney World or any of the company's Florida theme parks?
While some layoffs are expected in the Disney Parks, Experiences and Products division, according to Spectrum News 13, the cuts are not expected to affect hourly frontline workers at Disney's theme parks, said Disney Parks Chairman Josh D’Amaro in an email to employeesin February.
Significant layoffs within Florida’s theme parks division appear unlikely, according to the Orlando Sentinel. Iger said he was “very, very bullish about our parks. … Demand on the parks is extraordinary right now.”
Disney has not filed any Florida layoff notices, state records show. Federal law requires companies to give 60 days’ notice of mass layoffs and plant closings.
How many people does Disney currently employ?
The company has about 220,000 employees, with about 166,000 in the U.S. and about 54,000 internationally.
Bob Iger's memo to Disney employees
Read Iger’s full memo:
Dear Fellow Employees,
As I shared with you in February, we have made the difficult decision to reduce our overall workforce by approximately 7,000 jobs as part of a strategic realignment of the company, including important cost-saving measures necessary for creating a more effective, coordinated and streamlined approach to our business. Over the past few months, senior leaders have been working closely with HR to assess their operational needs, and I want to give you an update on those efforts.
This week, we begin notifying employees whose positions are impacted by the company’s workforce reductions. Leaders will be communicating the news directly to the first group of impacted employees over the next four days. A second, larger round of notifications will happen in April with several thousand more staff reductions, and we expect to commence the final round of notifications before the beginning of the summer to reach our 7,000-job target.
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. That’s part of what makes working at Disney so special. It also makes itall the moredifficult to say goodbye to wonderful people we care about. I want to offer my sincere thanks and appreciation to every departing employee for your numerous contributions and your devotion to this beloved company.
For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward. I ask for your continued understanding and collaboration during this time.
In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world – now, and long into the future. Please know that our HR partners and leaders are committed to creating a supportive and smooth process every step of the way.
I want to thank each of you again for all your many achievements here at The Walt Disney Company.
Sincerely,
Bob
