Disney opens 7000 layoffs to control costs and streamline business

Thanks to CTOnews.com netizen Wu Fei brother's left hand clue delivery! CTOnews.com Walt Disney CEO Bob Iger said in a letter to employees Monday that the company will lay off 7000 people as it seeks to control costs and build a more "lean" business.

According to Reuters, a person familiar with the matter said several of the company's major divisions-Disney Entertainment, Disneyland, Experiences and Products, and Enterprise-would be affected. ESPN was not affected by this week's layoffs, but is expected to be included in future layoffs.

Bob Iger said Disney will begin notifying the first employees affected by the layoffs within the next four days. A second round of larger layoffs will take place in April, with the letter mentioning "thousands of job losses." And the final round of layoffs will begin before summer.

Disney announced in February that it would lay off 7000 people to save $5.5 billion in costs and make its loss-making streaming business profitable. "We can't take it lightly that many colleagues and friends have left Disney with the difficult reality of bringing their lifelong passion to work at Disney. "

One source confirmed that one of the first areas of layoffs was in the TV production and acquisitions division, which has led to executive departures.