Disney to Cut More Jobs Amid Cost-Saving Push

The Walt Disney Company is proceeding with additional layoffs as part of its ongoing cost-saving measures. Multiple divisions, including TV networks and the motion picture studio, are expected to be affected.

Managers in affected areas have been given specific targets for annual cost savings, with some aiming for up to 20% reductions. Disney has not provided official comments on the latest round of cuts, which were first reported by Bloomberg.

Layoffs have been a consistent trend at Disney since CEO Josh D’Amaro assumed leadership in March. Earlier this year, the company eliminated 1,000 roles in April and several hundred in July, with Pixar and National Geographic among the most impacted divisions.

The process accelerated in August with the extension of a Voluntary Early Retirement Offer (VERO) to longtime executives. The VERO, which has now been completed, is seen as a precursor to further layoffs, with more eligible managers than expected opting for the package.

In late September, a couple of hundred employees were laid off, primarily in tech and HR, and another 100-200 employees in the Experiences division were recently let go, mostly at Disney’s Imagineering campus in Glendale.

Disney’s global workforce numbered just over 230,000 at the end of the most recent fiscal year. The company’s leadership has emphasized the need to evaluate and reshape its structure to remain competitive, particularly in the face of technological advancements and industry pressures.