Disney To Eliminate 15% Of Its Entertainment Staff

Amidst the global layoffs, Walt Disney is set to cut thousands of jobs next week, including about 15 per cent of its entertainment staff, according to a media report on Wednesday.

It added the layoff will include handing yellow memos to its working sectors namely, TV, film, theme parks and corporate positions.

According to reports, some officials claimed affected workers will be notified as early as 24 April. 

Earlier in February the company had planned to eliminate nearly 7,000 positions from its workforce of more than 2,20,000 in a move to save USD 5.5 billion of its annual costs.

A person familiar with the matter confirmed, Disney layoffs will include its employees from entertainment, which was created in restructuring a home for the company’s movie, TV production and distribution businesses, including streaming this year.

Part of the restructuring included CEO, Bob Iger restoring authority to creative executives. He thus elevated Alan Bergman and Dana Walden, the co-chairperson of Disney Entertainment. 

In support of the CEO’s effort, the company is further paired with its commitment to general entertainment, focusing on franchise properties and brands, resulting in the entertainment division cuts.

Meanwhile, Disney has not officially declared the layoffs.