Walt Disney Co. will reportedly begin laying off employees this week in the first of three rounds of job cuts that were announced earlier this year.
Disney CEO Bob Iger informed employees in a company-wide memo that the layoffs started, Reuters reported. The layoffs will trim Disney's headcount by about 7,000 workers in total, according to Reuters.
The move comes over a month after the company revealed during its first-quarter earnings call its plans to do the job cuts.
DISNEY MANAGERS TOLD TO IDENTIFY LAYOFF CANDIDATES, WITH 4K JOB CUTS EXPECTED BY APRIL: REPORT
DISNEY PARK PRICE HIKES ‘TOO AGGRESSIVE,' CEO BOB IGER ADMITS
Check back for updates on this developing story.
