It seems that the Walt Disney Company is having managers compile lists of layoff candidates and they need to turn those in to Disney CEO Bob Iger by April, according to an article in the Business Insider.
During Disney’s Q1 earnings call, Bob Iger announced that the company plans on slashing 7,000 jobs. About 4,000 would be coming from current employees and the other 3,000 would be from current open positions. Hourly employees will likely not be impacted by these cuts, however, the theme parks will not be exempted from cuts. Investors were also told that Disney plans on slashing $5.5 billion from the 2023 fiscal year.
According to the article, sources have told them that managers have been tasked with finding budget cuts and creating lists of employees to be laid off.
“Executives have been directed to prepare budget cuts and lists of employees to be laid off, and this person believes the news will come down in April, as managers have been told to turn in their lists in the next few weeks. It’s unclear whether Disney will conduct the layoffs in smaller waves over a longer period of time or drop the hammer on thousands at the same time.”
April 3 is the next investor meeting. Perhaps these lists will come into play at this meeting or some kind of announcement will be made about the impending layoffs?
We will have to wait and see.
What do you think? Comment and let us know!
Source: Business Insider
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