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Disney begins third round of expected layoffs, cutting more than 2500 jobs



A third wave of expected layoffs is underway at Disney, and employees impacted by the cuts are being notified this week, a source familiar with the situation told CNN.

More than 2500 staff are expected to lose their jobs across the latest wave of layoffs, the source said, in what is anticipated to be the last significant round of cuts that were previously announced by Disney CEO Bob Iger.

It was not immediately known which divisions would be impacted by the latest round of cuts.

READ MORE: Disney is scrapping plans for a new $1.5 billion Florida campus

A Disney (DIS) spokesperson declined to comment.

The first two waves of layoffs took place in March and April, eliminating roughly 4000 jobs, including at ESPN, Disney's entertainment division, Disney Parks, and its Experiences and Product division.

In February, Iger announced the media giant would axe roughly 7000 employees from its global workforce in three waves before the start of summer, an undertaking aimed at saving $5.5 billion in costs.

READ MORE: Disney begins laying off 7000 employees, CEO Bob Iger announces

The labor cuts make up 30 per cent of this figure, with another 50 per cent coming from marketing operations and 20 per cent from decreased spending on technology, procurement, and other expenses, the company said.

The latest wave of layoffs taking place this week is expected to bring the total number of job cuts to more than 6500, approaching the 7000 figure previously announced by Iger.

As of October 1, Disney had 220,000 employees, making the 7000-person reduction about three per cent of its global workforce.

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