Disney announces a second round of layoffs, firing off thousands of employees

The Walt Disney Co. is set to begin a second wave of layoffs, as part of its plan to eliminate 7,000 jobs and save $5.5 billion in costs.

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The layoff plan was announced in February, together with a restructuring of the company, aimed at creating a more streamlined approach to its business.

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The company has already cut 4,000 jobs, and is expected to cut several thousand more in the upcoming wave of layoffs, which will run from Monday through Thursday.

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The job cuts will affect all of the company's business segments, including Disney Entertainment, ESPN, and Disney Parks, Experiences and Products.

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However, the hourly frontline workers employed at the parks and resorts are not expected to be affected.

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Despite the challenges, Disney remains a major player in the entertainment industry, and its recent reorganisation is aimed at ensuring its continued success in the years ahead.

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