Disney Layoff: Around 4000 employees might lose their jobs

Disney, an entertainment giant kicked off its second round of layoffs yesterday (24 April 2023), which will affect the lives of 4,000 employees working in the company.

It has been reported that the entertainment platform has been planning to reduce its workforce by cutting 7,000 jobs which is part of a larger reorganisation that will see the company cut $5.5 billion in costs.

The second round of cuts affected Disney Entertainment and ESPN, as well as Disney Parks, Products and Experiences.

Sources reported that the upcoming third round of layoffs is expected to start before the beginning of the summer.

The jobs affected will span across the country from California, Burbank, to New York and Connecticut.

In a note to employees Jimmy Pitaro, CEO of ESPN said, "As we advance as a core segment of Disney, with operational control and financial responsibility, we must further identify ways to be efficient and nimble."

In February, the entertainment giant announced that it is set to lay off 7,000 employees to cut costs.