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Disney’s Firing-Spree Comes to a Climactic End; But Will the 7,000 Lost Truly Quench Bob Iger’s Thirst?

Walt Disney Headquarters
Credit: Disney

The war within the Walt Disney Company is over… at least for now.

When Bob Iger returned to his position as CEO of the Walt Disney Company, a massive burden was put on his shoulders. It is not easy being the leader of a company as powerful as the Walt Disney Company, and it is even more challenging when said company is dealing with some significant financial issues.

Earlier this year, Mr. Iger announced his plan to eliminate 7,000 employees from the company. The move was made as part of cost-saving measures being employed by the company. The layoffs would be completed in three “waves.”

Bob Iger The Walt Disney Company CEO BuzzFeed Deal

Credit: Disney

It has been reported that the third wave of layoffs has been completed as of Friday, May 26, the day before Memorial Day weekend. Now that the company has finally hit its goal of 7,000 terminated employees, it begs the question... was that enough?

Is 7,000 Really Enough to Fix Disney’s Position?

Disney is no stranger to job cuts; during the Covid-19 pandemic, thousands of Disney employees lost their jobs. This series of cuts feels different because of what areas of the company we saw getting hit the hardest. Unlike during covid, the theme Parks emerges remarkably unscathed by the layoffs. Meanwhile, divisions like media felt significant blows.

The Walt Disney Company

Credit: Disney

Staff reductions began on March 27. Around a month later, on April 24, the second and largest wave saw 4,000 job cuts. Even though a number like 7,000 seems massive, it really only represents 3.2% of the company’s 220,000 total employees. Still, Iger believes this number would significantly help Disney gain $5.5 billion in cost savings for the company.

Bob Iger

Credit: Disney

What Is to Come for the Walt Disney Company?

Now the question people are asking is, “what’s next?” Many fear that this round of 7,000 layoffs is only the beginning for the Walt Disney Company as they continue to “trim the fat.” It is evident that Iger is looking to focus his time and company resources on divisions of the company that are lucrative, such as theme Parks.

Only time will tell if more job cuts are on the way for the Walt Disney Company.

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.