Disney Starts Third Round of Layoffs

For the third time this year, The Walt Disney Company has started a round of company-wide layoffs. Monday morning, Disney started laying off more employees across the company's three primary sectors, with more than 2,500 jobs said to be on the chopping block. Late last year, Disney chief Bob Iger said the company hopes to have its layoffs completed in three rounds before summer, with 7,000 employees being dismissed from the company.

According to Deadline, Monday's layoffs aren't technically aimed at any particular one of the company's three verticals. The Parks and Resorts division, however, is said to remain next to untouched as the layoffs focuses more on the Entertainment and Experiences & Products divisions. The cast members working at both Walt Disney World and Disneyland are once again expected to remain safe for this round of layoffs.

Why is Disney going through layoffs?

The latest layoffs were initially announced by former CEO Bob Chapek and kept by Iger as a way to save more costs amid rising economic challenges. Outside of Iger and other members at the highest levels of the Disney C-suite, no employee has seemed safe from termination given the likes of longtime Marvel boss Ike Perlmutter have receive pinkslips during the layoffs.

"The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here," Iger wrote in the memo (via Variety). "That's part of what makes working at Disney so special. It also makes it all the more difficult to say goodbye to wonderful people we care about. I want to offer my sincere thanks and appreciation to every departing employee for your numerous contributions and your devotion to this beloved company."

"For our employees who aren't impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward. I ask for your continued understanding and collaboration during this time," he continued.

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