Disney to cut thousands of employees, ‘frontline’ parks workers not included

BURBANK, Calif. (FLV) – The Walt Disney Company will reportedly begin a second slate of layoffs this week.

The initial plan was to remove 7,000 employees from the overall company, which includes entertainment, parks, experiences and products divisions.

However, “frontline” employees in its theme parks, like Walt Disney World, are not included in those cuts.

CEO Bob Iger, who replaced Bob Chapek, said earlier in 2023 that the company will reduce costs by $5.5 billion and would continue with layoff plans.

The second round of layoffs will reportedly bring the standing total to nearly 4,000, with the 7,000 goal being reached before the summer.

“The difficult reality of many colleagues and friends leaving Disney is not something we take lightly,” Disney said.

The layoffs come as Iger aims to restructure the company post-coronavirus pandemic. He was the CEO prior to Chapek.

Disney stock is down over 16% over the year.

Despite the layoffs, since Iger came into his position, he announced a $17 billion investment plan into its Florida theme parks.

The announced investment also comes amidst an ongoing power struggle between the company and Gov. Ron DeSantis in the district encompassing Walt Disney World.

Last week, the Central Florida Tourism Oversight District Board announced plans to overhaul the area, ranging from utility rates to workforce housing.