JAKARTA - Disney will terminate employment (PHK) to 7,000 workers this week. The decision is the first round of three rounds.
The global layoff was to cut costs worth billions of dollars in order to streamline the company's operations amid the slump in the media industry.
"The difficult reality of many colleagues and friends leaving Disney is not something we take lightly," Disney CEO Bob Iger said in a memo that reported CNN, Tuesday, March 28, 2023.
"In difficult times, we must always do what is necessary to ensure Disney can continue to provide extraordinary entertainment to audiences and guests around the world now, and in the future," he added.
In the memo, he said layoffs would come in three rounds. The first round will begin this week which will be notified by the managers to the affected workers.
A larger second round will take place in April with several thousand workers in-PHK. The final round is made possible before the start of the summer to achieve the company's planned goal.
Disney (DIS) has about 220,000 workers as of October 1, of which around 166,000 are employed in the United States. The 7,000 cut represents about 3% of its global workforce.
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