It’s been reported that the infamous 7000 job cut that Disney announced earlier this year has now been completed. Entertainment news outlet Variety has published an article stating that the last of the layoffs were handed out last Friday, ahead of Memorial Day weekend, saying that the “company still has plans to eliminate more roles internationally over a period of time,” though currently, “Disney has now concluded the benchmark it set in February.“
The 7,000 layoffs — which represent 3.2% of Disney’s total headcount of about 220,000 worldwide as of Oct. 1, 2022 — are part of Disney’s efforts to achieve about $5.5 billion in cost savings. Of that, $2.5 billion represents “non-content costs” (including labor costs) and $1 billion of those targeted cost-reductions were already underway in February, Iger said. Disney is aiming for an annualized reduction of $3 billion in non-sports content costs, expected to be realized over the next several years.
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