Disney begins the second of three rounds of layoffs

(NBC, KYMA/KECY) - Disney began its latest round of layoffs Monday. The entertainment giant says that about 4,000 employees will affected before the final round of cuts begins before this summer starts.

Ultimately, Disney plans to shed about 7,000 jobs in total as part of a reorganization that will save the company $5.5 billion in costs.

That's about 3% of the company's work force, which stood at about 220,000 last October. This round of cuts will affect division across the company, including Disney Entertainment and ESPN.

Disney has previously said it doesn't expect layoffs to affect its hourly workers at its parks and resorts.

Bob Iger announced the cuts earlier this year during his first earnings call since returning as Disney's CEO.

Earlier this year, Disney head Bob Iger said the company would slash 7,000 jobs from its workforce as part of a larger reorganization.

The announcement was made during Iger's first earnings call after returning as CEO.