Disney cuts 1,000 jobs to accelerate reorganization

According to Reuters, the Walt Disney Company has reportedly announced approximately 1,000 job cuts via email as part of a reorganization led by its new executive, Josh D'Amaro. This decision aims to streamline operations and adapt the company to a rapidly evolving environment. The layoffs will primarily impact marketing teams, which were already reorganized earlier this year, as well as several other divisions including studios, television, ESPN, products, and technology and corporate functions.

In an internal memo, the executive reportedly emphasized the necessity of building a more agile and technology-driven organization to meet future challenges. This restructuring takes place against a backdrop of profound transformation in the entertainment sector, marked by the decline of traditional television, falling box office revenues, and intensified competition among streaming and content providers.

This plan follows a previous wave of restructuring initiated in 2023, which led to the elimination of 7,000 positions as part of a $5.5bn cost-saving program. Disney employed approximately 231,000 people at the end of its fiscal year in September, illustrating the scale of the ongoing adjustments to preserve its competitiveness.