Why is Disney laying people off?

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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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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“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,” Iger shared in the memo.

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Employees are calling for better working conditions and higher wages to account for inflation. The first strike took place on 23 May and saw 500 “cast members” walk out on the job, out of 17,000 total employees at the park. By 3 June, their numbers had doubled.

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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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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 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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She was forced to live out of her car in a Magic Kingdom employee parking lot. “A conservative survey of Magic Kingdom Cast Members, full-time, found out that ten percent of Magic Kingdom Cast Members are currently homeless,” Jessica explained. “And the problem has only gotten worse since the shutdown.”

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Many Cast Members were laid off during park closures, and while some were called back to work, others lost their jobs permanently. This staggering two-year drop in employment led to Disney's smallest reported workforce since 2015. The significant staff shortages were felt by guests since parks reopened.

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Our survey found that while 80% of Disneyland employees are proud of the work they do, they feel undervalued, disrespected and underpaid.

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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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According to InsideTheMagic.com, “Disney's attendance has dropped substantially,” with some attendees reporting impacts at Disneyland and other parks, with Disney World appearing more like a “ghost town” than a thriving tourist destination.

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The layoffs are spread throughout the company, affecting roles in the units formerly known as Disney General Entertainment and Disney Media and Entertainment Distribution, as well as corporate positions and jobs in the theme parks, experiences and consumer products business, according to people familiar with the matter ...

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