Disney Lays Off Hundreds More Staff as Cost-Cutting Continues
Disney is laying off several hundred more employees across its global workforce, with the majority of cuts hitting marketing, publicity, casting, development, and corporate finance teams. Staffers were reportedly notified on Monday, and while individual roles are being eliminated, no entire teams are being shut down. The layoffs primarily affect divisions within Disney Entertainment, with a significant number of those impacted based in Los Angeles.
This marks the fourth and largest round of layoffs in the past 10 months, following CEO Bob Iger’s return and his plan to slash costs by at least $7.5 billion. In 2023, the company eliminated 7,000 jobs as part of that effort, and earlier this year, nearly 200 more were cut at ABC News and other Disney-owned networks. The entertainment giant is navigating industry-wide changes, including the decline of traditional TV and a pivot to streaming. “We continue to evaluate ways to efficiently manage our businesses while fuelling the state-of-the-art creativity and innovation that consumers value and expect from Disney,” a spokesperson said.
Despite the cuts, Disney reported strong earnings last quarter, with revenue climbing to $23.6 billion and streaming delivering a $289 million increase in operating profit. The success of its latest animated release, Lilo & Stitch, which broke Memorial Day weekend box office records, has also helped cushion the blow. Still, the layoffs are part of what insiders describe as a tough day across Disney campuses, as the company continues to reorganize and streamline.
