Bob Iger’s plan to attack streaming-boom era spending at Walt Disney will pick up steam this week as the company begins the process of cutting about 7,000 jobs.
In a memo to staff on Monday, Iger said the cuts will start this week and last until the early summer, with the bulk taking place in April. Iger told staff the measures are needed for Disney to adopt “a more effective, co-ordinated and streamlined approach to our business”.
The cuts are expected to be spread across the company, though hourly workers at its theme parks are not expected to be affected. They are the first big reductions at Disney since 2019, when the company cut thousands of jobs after completing its acquisition of 21st Century Fox.
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