Disney CEO Bob Iger Shares Job Cuts Will Begin Soon

Since Bob Iger took back the reigns as CEO of The Walt Disney Company, we’ve seen some changes in policies and company structure.

One of the significant upcoming changes is that Disney has planned 4000 layoffs for workers across the company. We’ve heard some details about how this process will go, but now we know that the layoffs are starting very soon.

CNBC reports that Bob Iger sent out a memo to the company, letting Cast Members know that layoffs will begin this week. The cuts will come in three rounds before the summer starts, resulting in a total of 7000 job cuts. (With some being from current open positions.)

“This week, we begin notifying employees whose positions are impacted by the company’s workforce reductions,” Iger wrote in the memo. “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.”

©Disney

These job cuts will be all across the company, impacting Disney’s media and distribution division, parks and resorts, and ESPN. “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,” Iger wrote.

Iger also left a personal note in the middle of the memo to those employees who will be departing the company, saying, “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 it all the more difficult 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. ”

We’ll be on the lookout for more details in the coming days and weeks and keep you updated as Disney moves forward with the restructuring of the company. Stay tuned to AllEars.