The Walt Disney Company has begun laying off hundreds of employees in a fresh wave of job cuts designed to streamline operations and manage costs, sources confirmed to.
“As the entertainment landscape evolves rapidly, we’re actively refining how we run our business to continue delivering the creative excellence and innovation fans expect from Disney,” a company spokesperson shared in an email. “Today, that includes the difficult decision to eliminate a limited number of roles to boost efficiency.”
While the exact number of affected employees hasn’t been disclosed, Disney stated that the layoffs span multiple departments. These include film and TV marketing, television publicity, casting and development, and corporate financial services.
“We’ve taken a careful and targeted approach to reduce the number of people impacted,” the spokesperson added.
This marks Disney’s latest round of job reductions. Back in March, the company cut around 200 staffers across ABC and other entertainment-focused TV divisions. In April 2023, Disney went through a more dramatic restructuring under CEO Bob Iger’s leadership, eliminating roughly 7,000 jobs as part of what Iger called a “significant transformation.”
Disney’s vast media empire includes major brands such as ESPN, ABC, Marvel Studios, Disney+, Hulu, and more.
The latest downsizing announcement came shortly after Disney reported a second-quarter revenue of $23.6 billion… a 7% year-over-year increase. Despite the layoffs, the company maintains a positive outlook.
“We’re optimistic about Disney’s trajectory and confident in our performance for the rest of the fiscal year,” Iger said in a statement following the earnings report.
Following the news of the layoffs, Disney’s stock dipped slightly… down 0.4% by Monday afternoon.
