Why is Disney downsizing?

Disney said the job cuts were part of a plan to save $5.5 billion companywide. Reducing the company's workforce is 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, Iger said.



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The layoffs are part of Disney's cost-saving measures that will create a streamlined approach to our business, he wrote. Company officials said in a conference call last month that the job cuts, which represent roughly 3% of Disney's global workforce of 220,000, will save Disney roughly $5.5 billion.

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9, 2023. Disney began its second, larger wave of layoffs Monday, bringing total job cuts in recent weeks to 4,000 when the latest round is completed. Earlier this year, Disney said it would slash 7,000 jobs from its workforce as part of a larger reorganization of the company that will see it cut costs by $5.5 billion.

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The Walt Disney Company pays its employees an average of $23.19 an hour. Hourly pay at The Walt Disney Company ranges from an average of $15.61 to $46.63 an hour.

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A cut of 7,000 jobs represents about 3% of its global workforce. “While this is necessary to address the challenges we're facing today, I do not make this decision lightly,” said CEO Bob Iger, who returned to lead the company in November when the board fired Bob Chapek as the company's leader.

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The first two waves of layoffs took place in March and April, eliminating roughly 4,000 jobs, including at ESPN, Disney's entertainment division, Disney Parks, and its Experiences and Product division.

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The cuts will occur across the company's business segments, including Disney Entertainment, ESPN and Disney Parks, Experiences and Products, according to the sources, but are not expected to affect hourly frontline workers employed at the parks and resorts.

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Grande, however, allegedly forced Disney Cast Members to shut attractions down for hours, kicking all Guests out of the queue so that she could ride alone. (The Kardashian-Jenner family has been criticized for doing the same.)

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Although Disney has competitive programs like the Disney College Program, many locals and Disney-lovers alike are easily able to land a position with the company as long as they have the proper experience. The hiring process is like that of many other theme park jobs.

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87 percent of employees say they are proud to work for The Walt Disney Company. 80 percent of employees believe the business segment they work in develops creative products, services and content.

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The three words that Disney employees are trained not to say are “I don't know.” “If a guest asks you a question, you always have to have an answer, no exceptions,” an anonymous former Cast Member shared online. “If you don't know it, find out, but don't say you don't know.

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How much does a Walt Disney World Cast Member make? As of Sep 24, 2023, the average hourly pay for a Walt Disney World Cast Member in the United States is $16.79 an hour.

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Disney's 100th Anniversary is officially underway at Walt Disney World, with new things to do at Magic Kingdom, EPCOT, Animal Kingdom, Hollywood Studios, and the resort hotels. This guide to the 100 Years of Wonder Celebration offers info, what to see & do, and other assorted tips. (Updated September 22, 2023.)

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