Disney to begin layoffs this week

Photo by: WDAY Radio Staff
Photo by: WDAY Radio Staff

(Burbank, CA) -- Disney is set to begin layoffs this week.

According to a memo sent by CEO Bob Iger, it's the first of three rounds of cuts that will total about seven-thousand employees.

The belt-tightening is part of a broader effort to trim corporate spending and streamline operations.

The layoffs are expected to affect Disney's media division along with parks and resorts and ESPN.