Disney is laying off hundreds of employees in its film, TV and finance departments, although its theme parks segment is seemingly unaffected.
The latest job cuts at Disney come after several staff reductions in recent years as part of cost-cutting measures.
In March, Disney laid off 200 employees in its ABC News and entertainment networks units. In 2023, the entertainment giant laid off around 7,000 workers in a bid to save $5.5 billion in costs.
Now, Disney’s job cuts will impact its marketing departments for the film and TV units, as well as staff in the casting and development and corporate finance divisions.
A spokesperson told CBS News: “As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses while fueling the state-of-the-art creativity and innovation that consumers value and expect from Disney.
“As part of this ongoing work, we have identified opportunities to operate more efficiently and are eliminating a limited number of positions today.“
Disney to “minimize” number of impacted workers
Disney did not confirm how many employees will be let go in this round of job cuts.
“We have been surgical in our approach to minimize the number of impacted employees,” the spokesperson said.
The company, which employs 233,000 workers, said no teams will be eliminated entirely.
Last month, Disney reported $23.6bn in revenue for the second quarter of this year, a 7 percent increase compared to the same period in 2024.
Within this, revenue for Disney’s theme parks and experiences segment increased by 6 percent to $8.9bn.
The second-quarter earnings were released right after Disney announced a partnership with Miral to create a new theme park in Abu Dhabi, UAE.
In his post-earnings remarks, Disney CEO Bob Iger said the company’s focus “must always be on building for tomorrow as much as it is on managing for today”.
Images courtesy of Disney
