We’ve got an update on the layoffs coming to the Walt Disney Company.
These layoffs were announced in February and we’ve been watching them ever since. Soon after the announcement, Disney shared what Cast Members would be safe from the layoffs. Now, however, it seems that things are moving forward pretty quickly.
According to Business Insider, over the past two weeks, Disney managers have been instructed to start identifying potential members of their staff for the layoffs.
Executives have also been told to prepare other budget cuts as well. It’s expected that the hammer will come down in April, as the executives have been instructed to have these lists to their bosses in the next few weeks.
As a recap, Bob Iger announced his plan to “collapse the centralized content and distribution unit DMED” on his first day back as Disney CEO, and in the February earnings call, he announced he would be cutting 7,000 jobs with 4,000 of those coming from the current headcount.
All of these cuts are part of the plan to reach a cost savings of $5.5 billion, with trimming costs spent on TV and films, marketing, and other non-content lines covering the other aspects of savings. We’ll be sure to keep up on all the latest news to keep you in the loop, so stay tuned to AllEars.
See Bob Iger’s comments on restructuring the Walt Disney Company and what that could mean for the future right here.
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What do you think about these changes at Disney? Tell us in the comments below.
WOW! With all the savings, I’m expecting ticket prices to be coming down soon!