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Disney’s Tough Decision: Layoffs of 7,000 Employees to Mitigate Financial Strain

The "dream factory" gets rid of thousands of workers.

Disney’s Tough Decision: Layoffs of 7,000 Employees to Mitigate Financial Strain
Pedro Domínguez Rojas

Pedro Domínguez Rojas

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The list of massive layoffs by large companies is growing once again. In addition to a gigantic wave of layoffs by large companies such as Meta, Microsoft, Twitter, Amazon, Spotify, ByteDance, IBM and Twitch, one of the queens of entertainment is now joining the list: Disney.

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Walt Disney has reportedly launched several rounds of layoffs involving a total of 7,000 employees of his company. Reuters has had access to a letter sent by Walt Disney CEO Bob Iger to his employees, in which he states that the purpose of the Mickey Mouse company’s job cuts is to “control costs and create a more streamlined business”.

Among the company’s divisions that will be affected by these layoffs are Disney Entertainment, Disney Parks, Experiences and Products, and Corporate. For the time being, ESPN will not be affected by the cuts that will take place this week, but it is expected that some of its workers will be laid off in subsequent rounds.

This week, Walt Disney will begin notifying the first group of employees who will be affected by these job cuts. The second round, which will involve a much larger number of employees, will occur in April. The third and final round would take place before the summer, without specifying the month.

The announcement of the layoffs originally took place in February, when Disney announced that it would eliminate 7,000 jobs in order to save $5.5 billion in costs, as well as to make profitable its streaming platform, Disney+, which would be losing the company quite a bit of money.

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“The difficult reality of many colleagues and friends leaving Disney is not something we take lightly,” Iger wrote, noting that many “bring a lifelong passion for Disney” to their work.

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Pedro Domínguez Rojas

Pedro Domínguez Rojas

Publicist and audiovisual producer in love with social networks. I spend more time thinking about which videogames I will play than playing them.

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