Entertainment giant Disney began its second round of layoffs on Monday, affecting 4,000 employees.
According to a report in CNBC, the third round is expected to start before the start of summer.
Disney plans to reduce its workforce by 7,000 jobs as part of a major restructuring that will see the company cut costs by $5.5 billion.
“The senior leadership team is working diligently to define our future organization, and our foremost priority is getting it right rather than getting it done fast,” the company said in a note to employees.
The second round of cuts will affect Disney Parks, Experiences and Products, along with Disney Entertainment and ESPN.
CNBC reported that the affected jobs would spread across the country, from Burbank, California, to New York and Connecticut.
“As we move forward with operational control and financial responsibility as a core segment of Disney, we must identify ways to be efficient and agile,” ESPN CEO Jimmy Pitaro said in a note to employees.
“This is a time of transition for Disney, and these changes affect everyone, whether your role is affected or not. We are committed to supporting you during this period and feel free to contact your leaders with any questions or guidance you may have. Or encourage to reach out to HR partner, as required,” the company said.
In February, the entertainment giant had announced plans to lay off 7,000 employees to cut costs.
“I do not make this decision lightly. I have great respect and admiration for the talent and dedication of our employees around the world and I am conscious of the personal impact of these changes,” said its CEO Bob Iger.
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