Disney will sack thousands of workers this week in a bid to save $5.5 billion in costs. The company will begin the second wave of layoffs on Monday as it works towards eliminating 7,000 jobs, which includes 15% of its entertainment sector.
Disney has already begun the process to layoff off "several thousand" jobs and many will find out by Thursday whether they'll be staying or going. Disney has around 220,000 employees globally, with 166,000 based in the US and about 54,000 internationally.
The layoffs are expected to affect Disney Entertainment, ESPN and Disney Parks, Experiences and Products, bringing the latest round of reductions to a total of 4,000 jobs, reports CBS News.
