Disney Weighs Thousands of Layoffs as Managers Are Told to Find 20%

"The Walt Disney Co. is moving toward thousands of job cuts, and some managers have been asked to target 20% in annual cost savings, Bloomberg reported Monday, citing people familiar with the matter. The savings could come from both eliminated positions and reduced expenses, with theme parks, the television networks and the movie studio expected to be hit disproportionately. Variety, following the report, described it as Disney's biggest round of cuts this year. A Disney representative declined to comment.

According to Bloomberg, CEO Josh D'Amaro intends to put part of the savings back into film and TV programming, technology, and the parks and cruise businesses. Disney has promised double-digit growth in adjusted earnings per share for the current fiscal year and had about 231,000 employees worldwide at the end of fiscal 2025.

The cuts would follow a steady run of reductions. Reuters reported in September that Disney was laying off a few hundred people in HR and technology, the company cut about 1,000 positions in April, and it eliminated 7,000 roles in 2023 as part of a $5.5 billion savings program under former CEO Bob Iger. ""There is a need to constantly evaluate how you're structured and how big is the organization,"" Disney President Dana Walden said at Bloomberg's Screentime conference last month."