Disney Reportedly Cutting 2,500 Employees in Third Round of Layoffs

Disney is reportedly in the throes of a third round of layoffs that will eliminate another 2,500 jobs.

The cuts come on top of about 4,000 jobs the entertainment giant cut in March and April. Those cuts targeted employees at ESPN and Disney’s entertainment, parks, and experiences and products divisions. It was not clear where the latest round of cuts would fall.

Disney CEO Bob Iger announced in February that the company would slash 7,000 employees before the summer as part of a reorganization plan to save $5.5 billion in costs. That represents about 3% of it’s 220,000 global workforce. 

Deadline reported the latest round of layoffs, citing anonymous sources. Disney could not be reached for comment.

Earlier this month, Disney nixed its plan for a $1 billion corporate campus that would have housed 2,000 employees near Orlando. Disney attributed the move to “changing business conditions,” but it comes amid its public spat with Florida’s Republican Governor Ron DeSantis.

Disney has also said it will close its pricey immersive experience hotel, Star Wars: Galactic Starcruiser, in September.

Disney has suffered losses in its streaming business, but overall, the company met Wall Street expectations when it reported rising revenue and earnings its second-quarter financial results earlier this month.