The Walt Disney Company has undergone some MASSIVE changes since Bob Iger stepped back into the role of CEO of the company.
The company was restructured and several executives have left. Some changes made to Disney Parks during the previous CEO’s tenure were adjusted. Iger also recently stated that the company would be making $5.5 billion in spending cuts, part of which includes reducing the workforce by 7,000 jobs. Now, we have an update on those upcoming layoffs.
According to Business Insider, managers at the Walt Disney Company have been given “targets to reduce their budgets along with headcount.” The company is currently looking over everything to find redundancies and get rid of executives where it can, while executives have been told to prepare their proposed budget cuts and lists of employees to be laid off.
It’s expected that the layoff news will come in April — managers have been told they have to turn in these lists over the next few weeks.
Previously, Josh D’Amaro, Chairperson of Walt Disney Parks and Resorts, stated in an email to Cast Members that the job cuts won’t be in one sector of the company. There will also be cuts in the Parks, Experiences, and Products division. However, he also explained that Disney did not believe that those working in hourly frontline roles in operations would be impacted.
The layoffs will add up to 30% of the cuts Disney plans on taking from its general operating costs. The rest of the general operating costs cuts will happen like this: 50% in marketing and 20% in technology, procurement, and other expenses.
The company is also planning on cutting $3 billion in non-sports content.
In the meantime, Disney World Cast Members are pushing for gradually increasing starting wages at the resort to $20 per hour over the next five years. The unions say their members need bigger raises because of the cost-of-living increases happening in Central Florida. Disney recently made an offer, but the members of six unions representing those Cast Members voted “no” on the contract.
We’ll be keeping an eye on news about the layoffs and update y’all when we know more, so stay tuned to DFB.
Disney To Cut Spending By $5.5 Billion — Here’s How
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The post NEWS: THOUSANDS of Disney Employees to Be Laid Off Next Month first appeared on the disney food blog.