Disney will begin to lay off nearly 7,000  team members as early as this week, Disney’s CEO Bob Iger said in an email to staff on Monday.
Iger laid out his plan and reasons for laying off so many employees in an email memo obtained by IndieWire.
The layoffs—done in three stages—will begin this week for some, while other employees will be notified in the coming months in an effort to reduce payroll by the beginning of summer “to reach our 7,000-job target,” Iger explained.
Employees in every department and position will be affected by the decision.
“The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here,” Iger said….