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(Trends Wide) — A third wave of layoffs is reportedly underway at Disney, and employees affected by the cuts will be notified this week, a source familiar with the situation told Trends Wide.
More than 2,500 employees are estimated to lose their jobs in the latest wave of layoffs, according to the source. This is expected to be the most significant round of cuts previously announced by Disney CEO Bob Iger. It has not yet been revealed which divisions will be affected by this measure.
A Disney spokesman agreed to comment.
The first two waves of layoffs took place in March and April, and wiped out about 4,000 jobs, including some at ESPN, Disney’s entertainment division, Disney Parks and its Experiences and Products division.
In February, Iger announced that the media giant would lay off some 7,000 employees from its global workforce in three waves before the start of summer, with the goal of saving $5.5 billion in costs. Job cuts account for 30% of this figure, while another 50% comes from marketing operations and 20% from reduced spending on technology, acquisitions and other expenses, according to the company.
The latest wave of layoffs to take place this week is expected to bring the total number of job cuts to more than 6,500, close to the figure of 7,000 previously announced by Iger. As of October 1, Disney had 220,000 employees, making the reduction of 7,000 people representing approximately 3% of its global workforce.
