Disney world to lay off 7000 employees as per CEO Bob Iger confirmed on Monday in a media announcement

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The layoff has been scheduled to begin immediately starting 27th March, 2023 as communicated few months ago

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The layoff is a part of a multi-billion dollar cost-cutting plan to streamline and optimize the company operations

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The layoff is scheduled in 3 distinct phases beginning this week and the Managers are supposed to appraise the staff

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The 2nd phase is likely to be initiated next month, where more employees would be laid off as per the plans

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The last phase too will follow the 2nd phase in a short while and is likely to be completed within the next month

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Disney had about 220,000 workers as of October 1,2023 of which approximately 166,000 were employed in US

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The job cut that has been confirmed by Disney officials would actually translate to a reduction of 3% workforce

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