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Disney axes 1,000 jobs amid major shake-up
14 Apr
Summary
- Disney begins layoffs targeting 1,000 employees company-wide.
- Cuts affect traditional TV, movie studios, and corporate functions.
- This follows a January consolidation of Disney's marketing division.
The Walt Disney Co. has initiated a wave of layoffs, with approximately 1,000 jobs expected to be eliminated across its various divisions. This significant restructuring effort was announced by CEO Josh D'Amaro, who took the helm in February. The cuts are anticipated to affect a broad range of operations.
Impacted areas include Disney's well-established television networks, such as ESPN, as well as its film production studios. Employees within product and technology departments, along with certain corporate roles, will also face job losses. This initiative follows a January decision to consolidate the company's marketing division.
In a memo to employees, D'Amaro emphasized the need for agility and technological advancement to meet evolving industry demands. He noted that these changes are essential for delivering the creativity and innovation that fans expect. This round of layoffs comes after a more substantial job cut of around 8,000 positions shortly after Bob Iger returned as CEO in 2022.
The broader entertainment industry has also seen widespread contractions. Paramount Skydance has shed 2,000 jobs, and Sony Pictures Entertainment recently announced hundreds of layoffs. These industry-wide adjustments highlight a trend of streamlining and consolidation across Hollywood.
