There will also be a 'larger' round of layoffs in April, and a third round before summer. 'There will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward,' the CEO told staff in a memo.
Iger said in his memo that a second round of layoffs planned for April will be “larger” than the round this week, with “several thousand” cuts set to take place at that time. A third round of cuts will take place “before the beginning of the summer to reach our 7,000-job target.”
“For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward. I ask for your continued understanding and collaboration during this time,” Iger added. “In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world – now, and long into the future.
Iger returned as Disney’s CEO in November, with his successor and predecessor Bob Chapek departing after only about two and a half years on the job. “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period,” Disney’s board chair Susan Arnold said at the time.
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