The Walt Disney Co.’s plan to eliminate 7,000 staffers is hitting ESPN this week.
Returning chairman and CEO Bob Iger announced the layoffs as part of a cost-cutting effort designed to boost profits and satisfy activist investors.
The first of three scheduled waves of layoffs took place in March. This second wave was expected to be the largest. A third wave is planned to end by the start of the summer and will also include ESPN staffers who are not in talent roles.
ESPN will be making decisions about retaining talent after the third wave of layoffs is completed.
“We must further identify ways to be efficient and nimble. We will continue to focus our workforce on initiatives that are most closely aligned with our critical priorities and emphasize decision-making and responsibility deeper into the organization,” ESPN chairman Jimmy PItaro said in a memo to staff Monday.
“To those that will be leaving ESPN, I want to thank you for your many contributions and reinforce that the company is here to support you during this challenging transition. Please reach out to your HR Partner if you have any questions,” Pitaro said. “While these decisions were made with considerable thought, I also want to recognize that we understand that this has been a long — but thorough — process with a lot of uncertainty. This type of action impacts everyone. Thank you for your continued patience.”
Layoffs are also taking place at other Disney divisions this week.
