The Walt Disney Company is preparing to lay off nearly 1,000 employees in the coming weeks, with the marketing department expected to be the most affected by the workforce reduction.
Operative Information Center-OMM reports that The Wall Street Journal first published details regarding the planned cuts.
According to reports, preparations for this process began before Josh D'Amaro is set to transition into the role of executive director in March. The layoffs will represent less than 1 percent of the company's total global workforce of approximately 231,000 employees. This move is part of the company's ongoing measures to reduce expenses and streamline operations.
It should be noted that Disney took similar steps in 2023 and 2024, cutting approximately 7,000 jobs to limit costs and optimize business functions. These efforts are aimed at increasing profitability following long-term losses in the company's streaming business. The new wave of layoffs is also linked to an internal initiative called "Project Imagine," conducted under the leadership of Chief Marketing Officer Asad Ayaz. Following the news, the company's shares recorded a decline in value of approximately $4 billion. Reuters reported that it could not independently verify the information and noted that Disney has not yet provided an official comment.
The Walt Disney Company, a global leader in the entertainment industry, has been undergoing a significant restructuring phase to adapt to the evolving media landscape. As traditional television revenues decline and the competition in the streaming sector intensifies, major media conglomerates are increasingly focusing on operational efficiency and bottom-line growth to satisfy investor expectations in a volatile market.
