Walt Disney Company To Lay Off 7,000 Employees To Cut Costs [Updated]
News - DCL 09-Feb-2023
Alongside the announcement that The Walt Disney Company structure will be tweaked came the news that Disney will be cutting their workforce by 7,000 (3% of the company's global workforce) in an effort to increase efficiency within the company.
Alongside that will come a push for efficiency that targets $5.5B in cost savings. Reductions to non-content costs will total some $2.5B, with $1B in savings already under way, Iger said. That will incorporate cutting the workforce by 7,000 jobs. On the content side, "we expect to deliver approximately $3 billion in savings over the next few years, excluding sports," he said.
It's unclear what departments will get cuts and if the Disney Parks - where sections have been understaffed - will be affected by this. The Hollywood Reporter is quoted saying "However, with theme park staff making up a significant portion of Disney employees (and with that division not seeing the same level of restructuring as other departments), the cuts are likely to be steeper in the entertainment and ESPN divisions.".
Update: In an update (via Scott Gustin), Josh D'Amaro said workforce reductions will impact every segment across the company, including Parks, Experiences, and Products. However, he said the company does NOT expect it to impact hourly frontline roles in operations.
Join the FREE Mickey From The UK email club & never miss any of our Disney content
Tick the box to confirm you want to signup to our email club
(Your email will never be shared, sold or spammed as outlined in our privacy policy. Only Disney goodness you'll receive.)
Direct Link:
HTML Link: Click the text box above which will highlight, and then copy/paste the link.
All Disneyland Paris packages bookings made by 2nd April 2023 will receive a FREE crossing with P&O Ferries when you arrive between 1st April and 30th September 2023.
Benefits of Coming by C... Read more >
The 30th anniversary continues... and the magic is shining brighter than ever! It's time to dream bigger, laugh louder and smile wider as the 30th Anniversary continues until the 30th September, ... Read more >
Disney PhotoPass has announced a new "Video Memories" feature built into the My Disney Experience app. It takes your PhotoPass photos and creates videos for you to share. Video Memories is availa... Read more >
Disney has announced that on May 14th, 2023, Akershus Royal Banquet Hall at EPCOT will resume serving breakfast and lunch. The princess meet & greet restaurant reopened for dinner at the end of 2... Read more >
Can you claim a Blue Light Card (NHS) discount on your Disneyland Paris holiday? Yes, you can! However, you must book your Disneyland Paris package through the Walt Disney Travel Company UK (bet... Read more >
Do Walt Disney World offer a Blue Light Card (NHS) discount? Yes, they do! If you book your Walt Disney World package through the Walt Disney Travel Company UK (better known as Disney Holidays) ... Read more >
Starting today March 20th, guests who purchase Genie+ will receive the ability to save attraction photos at no additional charge for that day. However, the news isn't that exciting for Brits as M... Read more >
As previously announced, TRON soft openings begin today March 20th through April 2nd. Guests must use a virtual queue to get an opportunity to experience the attraction, or they can purchase a Li... Read more >
Disneyland Paris has announced that AVIS has come become their Official Partner in the Car Rental category for the next 5 years. Avis is a leading global rental car provider, with four distinct b... Read more >
TRON - the newest attraction at the Magic Kingdom - fully opens April 4th. However, guests who are at the Magic Kingdom between March 20th and April 2nd will get the opportunity to ride early dur... Read more >