Disney to Trim Workforce, Managers Asked to Slash Costs
Disney is preparing another round of layoffs while urging managers to cut expenses by up to twenty percent.
Disney Announces New Layoffs and Cost‑Cutting Push
Disney is preparing to cut several thousand jobs, according to sources familiar with the plan who spoke to CNBC on condition of anonymity.
In addition, some managers at the entertainment conglomerate have been instructed to lower expenses by up to twenty percent, the same sources said.
This development marks the latest wave of reductions since CEO Josh D'Amaro assumed leadership earlier this year. Earlier in the year, the company announced plans to eliminate roughly one thousand roles, primarily in marketing, and later announced cuts of about three hundred positions, many within human resources and technology.
Bloomberg was the first outlet to report on the newest round of layoffs. Company leaders warned of possible further reductions in the earnings report released in August.
In a letter to shareholders dated August 5, D'Amaro and CFO Hugh Johnston wrote, “We remain highly focused on reducing costs across the enterprise to create incremental capacity to invest for growth and are evaluating a variety of levers.” They added that the effort was “mid‑stream” and promised future updates.
Chief People Officer Sonia Coleman, in a communication to staff on August 24, described the layoffs as part of “several actions … to reshape our organization, including involuntary staff reductions that have already begun in some areas and will continue into next year.” She also noted the launch of an early‑retirement program for some employees.
Disney reported having about two hundred thirty‑one thousand employees at the close of its fiscal year 2025, which ended in September, according to the company’s annual financial filing.
The cost‑cutting trend is not unique to Disney. Netflix recently disclosed a plan to lay off roughly six percent of its workforce, and the newly merged Skydance entity, formed by Paramount and Warner Bros. Discovery, is also expected to reduce staff to achieve multi‑billion‑dollar synergies.
Disney is slated to release its fiscal fourth‑quarter earnings on November 17, where further details on the restructuring may emerge.
