The third -and final- wave is here.
Since returning to his position as CEO of the Walt Disney Company, Bob Iger has been tasked with the mission of turning the company’s financial situation around. For Mr. Iger, that meant cutting around 7,000 positions from the Walt Disney Company in order to save $5.5 billion in costs.
Back when the layoffs began on March 27, 2023, the public was informed that the cuts would be happening in three waves. The first and second waves have come and gone, now leaving the third, which is about to be underway.
The Final 2,500
This year has been a year of the unexpected for the Walt Disney Company. It is clear that CEO Bob Iger is committed to giving the company a massive shakeup in nearly all departments. Disney’s last wave of layoffs took place on April 24, 2023. This was the largest, known companywide as “the bloodbath.” During this time, Disney removed 4,000 positions, mainly targeting those working in television.
Now, the third and final wave has reportedly begun. It seems that this wave will result in 2,500 job cuts from a variety of different areas of the company. Unlike last round, it doesn’t seem that television will be hit as hard this time. The only area deemed “safe” is the Disney Parks and Resorts sector, as Walt Disney World Resort and Disneyland Resort are incredibly lucrative for the company right now.
Disney Layoffs Come to an End…?
This wave is supposed to be the last, but it is possible that more, smaller clusters of layoffs will happen throughout the summer. Layoffs are a tough but inevitable part of running a massive business like the Walt Disney Company. Still, it is sad to think about anyone losing their job.
This final wave of expected layoffs does come at an interesting time with the ongoing writers’ strike. Disney+ has also already announced that they will be removing dozens of titles from their streaming platform. We will likely learn more details throughout the week about what major positions will be terminated and what areas will be targeted.