In February this year, Disney announced that it will lay off 7,000 employees as part of a larger reorganisation and savings drive. The entertainment conglomerate has now begun its second wave of layoffs which is said to bring a total job count to 4,000. An internal memo also reveals that the layoff notices will continue over the next several days. The CEO of Disney, Bob Iger, is overseeing a 'restructuring' of the company that includes staff layoffs. Approximately 3.6% of Disney's global workforce is expected to be affected by the layoffs. Disney is planning to restructure its operations into three segments: an entertainment unit, a sports-focused ESPN unit, and a Disney parks, experiences, and other products unit.