Disney is said to have cut off 7,000 people, as CEO Bob Iger promised in February.
Employees of the Walt Disney Company were given notice in a third wave of layoffs on Friday.
The majority of the layoffs were in the media department, with just a few in the park resorts.
According to a person familiar with the matter, Disney still intends to lay off additional employees worldwide in the future.
But, for the time being, this will allegedly be Iger’s last round of layoffs since returning to his post as CEO after Bob Chapek’s exit in November.
Employees were let off for the first time on March 27 as part of Iger’s aim to slash expenses by $5.5 billion upon his return as CEO. From 2005 until 2020, he held the position.
The week of April 24, Disney announced another wave of layoffs, increasing the total to 4,000.
According to the site, the 7,000 layoffs represent 3.2% of Disney’s worldwide staff base of 220,000 as of October 1, 2022.
The amount also includes $2.5 billion in “non-content costs” (including employee layoffs) that Disney CFO Christine McCarthy informed investors of in February.
At the time of the announcement, Iger, 72, said of the planned layoffs that he has tremendous gratitude and respect for the hard work of their employees worldwide.
He said that they are going to take an extremely close examination of everything they make in general entertainment since things in a more competitive world have simply gotten more expensive.
Disney representatives did not immediately reply to requests for comment.
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