Disney Plans New Round of Layoffs Across Multiple Divisions, Targeting Up to 20% in Cost Savings
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The Walt Disney Company is preparing another wave of job cuts spanning its TV networks and motion picture studio, with division managers instructed to achieve as much as 20% in annual cost savings.
The Walt Disney Company is laying the groundwork for a new round of layoffs across several divisions, including its TV networks and motion picture studio, with managers at affected teams given targets of up to 20% in annual cost savings. Disney declined to comment on the cuts, which were first reported by Bloomberg; exact timing remains unclear.
The new round is the latest in a series of reductions since Josh D'Amaro became CEO, succeeding Bob Iger on March 18. Earlier rounds eliminated around 1,000 roles in April and several hundred more in July, with Pixar and National Geographic among the most affected divisions. In August, Disney extended a Voluntary Early Retirement Offer to longtime executives — more managers accepted the package than expected — a move that was always seen as a precursor to further layoffs. A few hundred employees were then let go in late September, mainly in tech and HR, followed last week by 100 to 200 more in the Experiences division, most of them at Disney's Imagineering campus in Glendale.
D'Amaro has said the resulting savings will be reinvested in new content, next-generation guest experiences, and technology infrastructure. Dana Walden, President and Chief Creative Officer, described the ongoing restructuring as a necessary response to technology encroaching on the entertainment business. Disney's global workforce stood at just over 230,000 at the close of its most recent fiscal year.
