Disney Begins Third Round of Layoffs — Expected to Lose 700 Employees

In an effort to right the financial issues The Walt Disney Company is dealing with, Iger announced a series of 7000 job cuts.

We’ve already seen the first wave of the job cuts and the executives that were let go, as well as a second wave of job cuts in April, all in an effort to help right the ship. This week, we just got a massive update indicating that more employees are getting laid off.

In addition to the previous waves of job cuts, the third wave has just kicked off and Deadline reports that around 700 employees will be affected. The parks and resorts remain largely untouched, and since the television division was hit hard last time, it seems that there are relatively fewer job cuts in that department.

If you follow the timeline of job cuts that Disney CEO Bob Iger announced back in March, this is expected to be the last major round for a while. However, there are expected to be some smaller losses in the coming months. The first wave of cuts came March 27th and the second started on April 24th. Disney expects to get around $5.5 billion in cost savings from the job cuts.

These layoffs are not expected to affect frontline Cast Members in the parks. The main losses have been in Entertainment, ESPN, and the Parks, Experiences and Products division.