Back in February of 2023, current Disney CEO Bob Iger announced that there would be 7,000 job cuts at Disney.

We’ve since gotten some updates about what Disney Cast Members may (or may not) be impacted by these job cuts, and in early March we shared that some of these layoffs and job cuts could begin next month. Now we’ve got a huge update on what’s happening at Disney.

According to CNBC, Bob Iger has sent out a memo to Disney employees about the impending job cuts. These are part of Disney’s overall goal to reduce spending by $5.5 billion.

In the memo, Iger noted that senior leaders have been working with HR over the past few months regarding these job cuts and some of the cuts will actually begin very soon. Iger shared that this week they will start to notify some employees whose jobs are being impacted by the job cuts.

Leaders will communicate this news directly to the first group that’ll be impacted by the job cuts over the next 4 days. This is just the initial round of job cuts though.

The second round of notifications for the job cuts will go out in April. This is expected to result in a larger number of job cuts, “with several thousand more staff reductions.”

The final round of notifications is expected to go out before the start of the summer. That’ll get Disney to its target of 7,000 job cuts.

Iger shared, “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.” He offered his thanks to those who will be departing the Company.

To those who will be staying, Iger said “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.”

Toward the end of his memo, Iger shared, “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…I want to thank each of you again for all your many achievements here at The Walt Disney Company.”

According to CNBC, the layoffs will impact various departments at Disney, including media and distribution, parks and resorts, and ESPN. Previously, however, Josh D’Amaro (Chairman of Parks, Experiences, and Products) indicated that Disney anticipated those working hourly frontline roles in operations would NOT be impacted.

With Disney’s annual shareholder meeting just a few days away (on April 3rd), we expect more Disney news could be released soon. We’ll be on the lookout for future updates.

Check out Iger’s full menu below:

Dear Fellow Employees,

As I shared with you in February, we have made the difficult decision to reduce our overall workforce by approximately 7,000 jobs as part of a strategic realignment of the company, including important cost-saving measures necessary for creating a more effective, coordinated and streamlined approach to our business. Over the past few months, senior leaders have been working closely with HR to assess their operational needs, and I want to give you an update on those efforts.

This week, we begin notifying employees whose positions are impacted by the company’s workforce reductions. Leaders will be communicating the news directly to the first group of impacted employees over the next four days. A second, larger round of notifications will happen in April with several thousand more staff reductions, and we expect to commence the final round of notifications before the beginning of the summer to reach our 7,000-job target.

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. That’s part of what makes working at Disney so special. It also makes it all the more difficult to say goodbye to wonderful people we care about. I want to offer my sincere thanks and appreciation to every departing employee for your numerous contributions and your devotion to this beloved company.

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.

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. Please know that our HR partners and leaders are committed to creating a supportive and smooth process every step of the way.

I want to thank each of you again for all your many achievements here at The Walt Disney Company.

Sincerely,

Bob

Click here to see why one former CEO says he’s still alive because he retired from Disney

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The post “There Will No Doubt Be Challenges Ahead” — Disney CEO Bob Iger Gives Huge UPDATE on Job Cuts first appeared on the disney food blog.