Disney reportedly starting second wave of job cuts

Walt Disney Co is reportedly set to start a second wave of layoffs on Monday as part of its plan to slash 7,000 jobs to save $5.5bn.

The company is expected to cut "several thousand" jobs in layoffs that start Monday and will take the total of job losses to 4,000.

The cuts will occur across the company's business segments, including Disney Entertainment, ESPN and Disney Parks, Experiences and Products, according to the sources, but are not expected to affect the hourly frontline workers employed at the parks and resorts, according a Reuters report citing unnamed sources.