BURBANK, Calif. — The Walt Disney Co. is preparing another round of layoffs that could affect thousands of workers, Deadline reported, citing sources.
The cuts will reach multiple divisions, including TV networks and the movie studio. Managers have been given savings targets, with some asked to find as much as 20% in annual cost savings, according to Deadline. Bloomberg first reported the plans.
Disney declined to comment, and the exact timing is unclear.
Disney has cut jobs throughout the year since Josh D’Amaro succeeded Bob Iger as CEO on March 18. About 1,000 roles were eliminated in April and several hundred more in July, with Pixar and National Geographic among the hardest hit, Deadline reported.
In August, the company offered voluntary early retirement to longtime executives. A couple hundred employees, mostly in tech and HR, were laid off in late September. Last week, another 100 to 200 workers in the Experiences division were let go, most of them at the Imagineering campus in Glendale, California.
D’Amaro has said savings will be reinvested in growth areas. “That frees up capital to reinvest aggressively in what drives long-term value,” he said on the company’s last earnings call, pointing to new content, guest experiences and technology.
Disney had just over 230,000 employees worldwide at the end of its most recent fiscal year.
Sources: Deadline. Thee Arizona Times uses AI-assisted reporting reviewed against the sources listed.
Photo: Carol M. Highsmith / Public domain via Wikimedia Commons.
