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Disney eyes thousands of layoffs, asks managers to target 20% savings, Bloomberg News reports
- Disney is moving toward thousands of job cuts, asking managers to target 20% in annual cost savings, Bloomberg News reported on Monday.
- Chief Executive Officer Josh D'Amaro navigates industry challenges including AI proliferation, weaker box office revenue, and intensifying streaming competition from rivals.
- Disney employed 231,000 people at fiscal year-end, following prior reductions of 7,000 roles in 2023 and about 1,000 positions in April.
- D'Amaro aims to reinvest savings into film, TV programming, technology, and cruise ship businesses while Disney President Dana Walden emphasized evaluating structure to "survive and thrive."
- Broader media peers including Netflix and Skydance have also slashed jobs as traditional television revenue declines and streaming competition intensifies across the industry.
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Disney layoffs: thousands of cuts planned as managers target 20%
Disney is planning thousands of job cuts and has asked some managers to target cost savings of 20%. Thomas Buckley first reported the plan for Bloomberg, citing people familiar with the matter. The savings could come from job cuts as well as other expenses. CNBC later reported the same plan from its own sources. It […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Disney is preparing a new wave of redundancies, which could affect a few thousand employees, according to sources quoted by CNBC. At the same time, some of the company's managers were asked to reduce expenses...
Coverage Details
Total News Sources171
Leaning Left11Leaning Right30Center31Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
15%
C 43%
R 42%
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