Aiming 7000 Job Cut-offs, Disney Starts Second Round of Layoff in 2023

Walt Disney is supposed to lay off thousands of more workers this week as it wants to slash 7000 jobs by the summer 2023. This marks second round of job cuts after a first round that began in March 2023.

According to the reports by the Disney officials, in 2023 it is supposed to eliminate somewhat 4000 jobs. These eliminations are going to occur across the company’s business segments which includes Disney Entertainment, Disney Parks, ESPN, and Experiences and Products. The reports say, the company’s direct-to-consumer division which sheds a whopping $4 billion-plus in the fiscal 2022, this happened after the company spent $33 billion on content in 2022.

Previously, the company has announced that it will slash 7,000 jobs to eliminate $5.5 billion in costs. Disney also went through the first round of layoffs by the end of March 2023 with more job cuts which were expected before the initiation of summer to hit the target. With the layoffs announced in February, Disney thought to disclosed plans to restructure the organization into three core business segments, that is, ESPN, Disney Entertainment and Disney Parks, Experiences and Products.

Disney Direct to Customer Quarterly Results

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Garvit Vyas

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Garvit Vyas is a Research Analyst with experience in working across multiple industry domains in the market research sector. Over the past four years, he has been actively involved in analyzing diverse markets, gathering industry insights, and contributing to the development of comprehensive research reports. His work includes studying market trends, evaluating competitive landscapes, and supporting data-driven business insights. In the early phase of his career, Garvit worked on cross-domain research projects, which helped him build a strong foundation in market analysis, data interpretation, and industry intelligence across various sectors. Later, he transitioned into the Quality Control (QC) function, where he focuses on reviewing and refining research reports and marketing collaterals to ensure accuracy, consistency, and high editorial standards. His responsibilities include validating research data, improving report structure, and maintaining the overall quality of published content. Garvit is committed to maintaining strong research integrity and delivering reliable insights that support informed business decision-making.

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