Disney Begins Second Round of Job Cuts, Affecting Thousands
- Entertainment giant plans to eliminate 7,000 jobs this year
- Company seeks to pare costs, reduce losses in streaming arm
The entrance to The Walt Disney Studios in Burbank, California.
Photographer: Patrick T. Fallon/Bloomberg
This article is for subscribers only.
Walt Disney Co. began letting go thousands of employees on Monday in the entertainment giant’s ongoing push to cut about 7,000 jobs this year.
This is the second of what’s expected to be three rounds of cuts, Disney said in a statement. The first reductions to Disney’s 220,000-person workforce came in March. This round, which will last through Thursday, should bring the total positions eliminated to around 4,000, the company said.