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Walt Disney Co will begin a second wave of layoffs on Monday involving thousands of jobs, as part of efforts to eliminate 7,000 positions and save $5.5 billion in costs, according to sources familiar with the matter.
The company will cut “several thousand“ jobs through Thursday, with the latest round of reductions bringing the total number of jobs culled to 4,000, Disney officials say.
The cuts will occur across the company’s business segments, including Disney Entertainment, ESPN and Disney Parks, Experiences and Products, according to the sources, but are not expected to affect hourly frontline workers employed at the parks and resorts.
