MOUSE TRAP IS SET

Disney ax to start

Disney will begin a longexpected series of layoffs this week, signaling that a “larger” round of cuts is planned for April as the Mouse House looks to slash 7,000 jobs.

CEO Bob Iger (inset) detailed plans for the bloodbath in a memo to staffers Monday. The first set of Disney employees will receive their pink slips by the end of this week.

The “second, larger round of notifications” will occur in April and consist of “several thousand more staff reductions.”

A third round is expected to occur “before the beginning of the summer to reach our 7,000-job target,” Iger added.

“For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward,” Iger said in the memo obtained by The Hollywood Reporter.

Iger has led a rapid restructuring at Disney since returning as the company’s CEO in November. In February, the longtime executive first announced the layoffs would be part of a $5.5 billion cost-cutting plan. Some $2.5 billion would come from operational cost reductions, while the rest is linked to savings on spending cuts for nonsports content.

Iger said layoffs were “important cost-saving measures necessary for creating a more effective, coordinated and streamlined approach to our business. In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment.” Disney, which has more than 200,000 employees, embarked on the budgettightening after facing pressure from activist investors who accused it of overspending on its streaming business.

Iger has also reorganized Disney into three segments: film, television and streaming; sports-media giant ESPN; and theme parks and experiences. He also has cracked down on the workforce, requiring staffers to return to the office at least four days per week.