Disney CEO Bob Iger lays out the timeline for job cuts as the company restructuring and cost-saving measures come into effect

In a memo to Cast Members today, Disney CEO Bob Iger has detailed the timeline for job cuts affecting all company segments.

The first round of job cuts will begin this week, followed by a larger round of notifications in April, expected to impact several thousand employees. The final round of notifications will take place before the beginning of the summer to bring the total workforce reduction to 7000.

Bob Iger announced the job cuts at the quarterly earnings call in February 2023

Iger said in the memo, "The difficult reality of many colleagues and friends leaving Disney is not something we take lightly. This company is home to the most talented and dedicated employees in the world, and so many of you bring a lifelong passion for Disney to your work here. That's part of what makes working at Disney so special. It also makes it all the more difficult to say goodbye to wonderful people we care about. I want to offer my sincere thanks and appreciation to every departing employee for your numerous contributions and your devotion to this beloved company. "

Disney Parks, Experiences, and Products Chairman Josh D'Amaro has previously said that job losses will occur in the parks segment.

Disney Parks Chairman Josh D'Amaro says that job losses are coming in the parks division, but does not expected them to be in front line operations at the parks

In a note to Cast Members after the job cut announcement in February, Josh said that "the company is targeting significant savings across all businesses and the reorganization will result in necessary reductions to our overall workforce. While our teams have made great progress in contributing to cost savings, these measures affect every segment and organization — including ours — and are vital as we implement more cost-effective, coordinated, and streamlined operations."

Although the Disney Parks, Experiences, and Products division will see workforce reduction, D'Amaro said that he does not expect this to affect hourly frontline operations roles.

At the February Quarter earnings Call, Disney CEO Bob Iger announced there will be a new Disney organizational structure with three segments - Disney Entertainment, ESPN, and 'Disney, Parks Experiences, and Products.' The restructuring will allow Disney to save $5.5 billion in cost savings, and as part of the plan, Iger says Disney will eliminate 7000 jobs. Cost reductions will be comprised of approximately 50% marketing, 30% labor, and 20% technology procurement and other expenses.

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