Disney is laying off several hundred workers, according to reports in the Wall Street Journal and Deadline. It’s the fourth and largest batch of cuts from the company in the last 10 months.
Deadline reports that the majority of the cuts are from the company’s corporate financial operations and Disney Entertainment’s various divisions, including film and television marketing, publicity, development, and casting.
Related: Here’s How Much 8 CEOs Made in 2024, From JPMorgan’s Jamie Dimon to Disney’s Bob Iger
The Wall Street Journal notes that entire teams were not being eliminated, but the cuts span divisions globally.
Disney, which is headquartered in Burbank, California, would not disclose the exact number of layoffs this week, according to the Los Angeles Times.
In March, the company cut around 200 jobs, about 6% of the news workforce, mostly affecting the ABC News division in New York.
According to a filing with the SEC, Disney had around 233,000 employees at the end of September 2024. The company has cut more than 8,000 roles since 2023, per Bloomberg.
Disney reported better-than-expected Q2 earnings last month.
(Source)