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Disney laying off thousands in second round of job cuts

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Disney started a second round of layoffs on Monday as the company seeks to save billions in operating costs.

The company is expected to cut "several thousand" jobs through Thursday, sources familiar with the matter told Reuters.

In February, the company announced in an earnings report that it was planning to trim its payroll by 7,000 employees under a new restructuring plan. 

Officials told Reuters that 4,000 people have been affected so far, including the latest round of cuts.

Representatives for Disney have not immediately responded to FOX Business' request for comment. 

This is a developing story. Please check back for updates.

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