Disney braces for a layoff bloodbath with more than 4,000 people set to be fired by Friday - including one ESPN employee who worked at the business for over FOUR decades
The Walt Disney Co. will be laying off several thousand employees this week, a second round of cuts that's part of a previously announced plan to eliminate
7,000 jobs this year.
The latest employee releases will take place Monday through Thursday, according to Disney officials. The company will have reached approximately 4,000 job cuts when factoring in both the first and second rounds of layoffs.
One of the most publicized layoffs including ESPN VP/Corporate Communications Mike Soltys.
Soltys had been with the network for 43 of its 44 years on the air and was the network's second-longest tenured employee.
The cuts are also occurring in various locations, including Burbank, California, New York and Connecticut.
Disney anticipates a third round of job cuts starting before the beginning of the summer in order to hit the 7,000 eliminations target.
Disney has been adapting to new leadership since former CEO Bob Iger returned in November after retiring from the same position in 2020.
His appointment was prompted by a plummeting share price, onset after its streaming division incurred $1.5 billion losses in the quarter ending October 1.
Disney braces for a layoff bloodbath with more than 4,000 people set to be fired by Friday | Daily Mail Online