Disney Announces Plans for Several Thousand Layoffs and Managerial Cost Reductions
The Walt Disney Company is planning to lay off several thousand employees as part of an ongoing effort to reduce costs across the enterprise. According to sources familiar with the matter, some managers have been instructed to implement cost-cutting measures of up to 20%. This move follows previous rounds of job cuts in April and September targeting marketing, human resources, and technology divisions. CEO Josh D'Amaro and CFO Hugh Johnston previously signaled that the company would continue evaluating various levers to reduce expenses to create capacity for growth. These reductions are part of a broader organizational reshaping that includes early retirement programs and involuntary staff reductions expected to continue into next year. This trend mirrors similar cost-cutting actions seen elsewhere in the entertainment sector, such as recent workforce reductions at Netflix.
Topics: corporate restructuring cost reduction employment layoffs
Part of the story Walt Disney Co. Targets 20% Annual Cost Savings Through Potential Job Cuts (4 articles)