Disney starts third round of mass layoffs

A third wave of expected layoffs is underway at Disney, and employees impacted by the cuts are being notified this week, a source familiar with the situation told CNN.

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More than 2,500 staff are expected to lose their jobs across the latest wave of layoffs, the source said, in what is anticipated to be the last significant round of cuts that were previously announced by Disney CEO Bob Iger. It was not immediately known which divisions would be impacted by the latest round of cuts. …

The latest wave of layoffs taking place this week is expected to bring the total number of job cuts to more than 6,500, approaching the 7,000 figure previously announced by Iger. As of October 1, Disney had 220,000 employees — making the 7,000-person reduction about 3% of its global workforce.

[Does anyone still think that Iger would have built that complex of office space on Lake Nona? This round of layoffs is larger than the entire campus would have housed, and this is only the latest round. Plus, Disney has to find $5.5 billion in savings to meet its new savings goals, and that means that they don’t have the $1 billion it would have taken to build a new facility to expand office space they don’t need. — Ed]

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