[ June 16, 2026 ]
Ho woke, go broke. Disney will begin a second wave of layoffs Monday, as it works toward eliminating 7,000 jobs to help save $5.5 billion in costs, according to a report.
CNN: Disney is laying off several thousand workers across the company this week in the second and largest wave of cuts as part of the media giant’s previously announced plan to slash its workforce by 7,000 employees. The latest round of job cuts will impact ESPN, Disney’s entertainment division, Disney Parks, and its Experiences and Product division as part of a larger workforce reduction plan announced in February by chief executive Bob Iger in an aim to save $5.5 billion in costs, the company said (CNN).
Wall Street Journal: Disney is set to lay off ESPN employees as it tries to figure out the sports network’s next chapter. ESPN has been a moneymaker for Disney for years but its subscriber base has eroded as more people cancel their cable subscriptions. Disney acquired majority control of the sports channel in 1995. It explored the idea last year of spinning off ESPN but ultimately decided against it, Mr. Iger said in February (Wall Street Journal).
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