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4,000 Disney Employees to Be Fired in the Next Two Weeks

CEO iger
Credit: Disney and Flipboard

Shocking news has just been revealed about the layoffs within the Walt Disney Company.

bob iger in his office

Credit: Variety

Since CEO Bob Iger replaced Bob Chapek and returned to leadership in November, he has made it clear that he is determined to cut costs for the company. Many assumed that the cost-cutting measures would include employee lay-offs, but nothing was confirmed until later in the year. Fans were saddened to hear Iger reveal during a February quarterly results call that his plan to save money includes eliminating over 7000 jobs. Now, Insider has reported that many of those layoffs will be happening sooner than originally thought.

A Dark Day for the Walt Disney Company

It has been revealed that Disney CEO Iger is reducing the number of employees at a rapid pace. Managers at Disney have been given orders to reduce their budgets and reduce their employee numbers. For the past two weeks, Disney has been making brutal cost savings decisions. Executives at the company are currently preparing budget cuts in all departments.

Bob Iger

Credit: Disney

These executives have been assigned to create a list of employees that they deem to be redundant and disposable. These lists will be turned in to higher-ups in the next couple of weeks. After the lists are turned in, employees who are on them will be informed of their termination. It is unclear if the layoffs will happen in waves or all at once.

Disney Layoff List to Include 4,000 Names

A staggeringly large number of employees will be included on the layoff lists. Out of the 7,000 jobs that were announced to be cut, 4,000 of those jobs will be on the upcoming list. That is a huge amount of employees, and this news is truly shocking to hear.

In total, Bob Iger hopes to save the Walt Disney Company $5.5 billion. As the due date for the significant transformation draws near, the public will anxiously wait to see when terminations will happen and what areas will be affected the most.

About Eva Miller

Eva was born and raised in the beautiful state of Oregon but has since relocated and lives in New York City. Since she was young, Eva has loved to perform in musicals, especially Disney ones! Through performing, Disney’s music became the soundtrack of her childhood. Today, Eva loves to write about all the exciting happenings for the Walt Disney Company. In her free time, Eva loves to travel, spend time in nature, and go to Broadway shows. Her favorite Disney movie is 'Lilo and Stitch,' and her favorite Park is Disney's Animal Kingdom.