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Business

Disney Layoffs: Up to 1,000 Jobs Cut Under New CEO D'Amaro

Disney plans to cut up to 1,000 jobs amid cost-cutting efforts.

Apr 9
2 min read
Disney Layoffs: Up to 1,000 Jobs Cut Under New CEO D'Amaro

Top Summary

  • What happened: Disney is preparing to eliminate up to 1,000 jobs, primarily affecting the marketing department.
  • Why it matters: The layoffs are part of a larger restructuring effort to address declining profits from streaming and weaker box office returns.
  • What changes: This signifies new CEO Josh D'Amaro's first major action, impacting company operations.
  • Who is affected: Primarily the marketing department, along with employees at Disney+ and Hulu as the services consolidate.

Disney's Restructuring

Disney is set to cut up to 1,000 jobs, according to the Wall Street Journal. This marks a significant move under new CEO Josh D'Amaro. The layoffs will mostly impact the marketing department following its recent consolidation.

The company is facing challenges with shrinking streaming profits compared to traditional TV. They also face weaker box office returns and competition from tech giants like Amazon and YouTube.

Cost-Cutting Measures

The entertainment giant aims to redirect funds toward digital ventures with higher growth potential. Disney has already laid off over 8,000 employees since Bob Iger's return as CEO in 2022.

Iger launched a sweeping restructuring plan upon his return. While the latest job cuts were planned before D'Amaro took over, he will oversee their implementation.

Consolidation Efforts

Disney is merging operations to streamline spending and improve coordination. In January, they unified marketing for entertainment, experiences, and sports under chief marketing officer Asad Ayaz. This initiative is known internally as Project Imagine.

The company is also combining staff from Disney+ and Hulu as they integrate the streaming platforms into a single app. Consulting firm Bain & Co. is advising Disney on its cost-cutting strategy.

Employee Numbers

Disney ended fiscal 2025 with 231,000 employees. About 80% of these work in the experiences division, including theme parks and consumer products. Entertainment and corporate operations have seen reductions, while parks and cruise businesses continue to grow.

What to Watch Next

Keep an eye on how the integration of Disney+ and Hulu progresses. Monitor if these cost-cutting measures lead to improved financial performance and innovation in Disney's digital ventures.