The Walt Disney Company today announced its second round of layoffs bringing the total of employees let go to 4,000. The company’s goal is a total of 7,000 by summer. The reductions began in February.
Bob Iger announced the layoffs upon returning as CEO in January. When you study the stock descent from $197.16 on March 21, 2021, to its current price of $99.08 (12:20 PM on March 24, 2023), you can see the urgency in the company taking steps to turn things around.