Disney plans extensive round of layoffs in the coming weeks
Los Angeles Times • • business
Key Points:
- Walt Disney Co. is preparing to lay off up to 1,000 employees, primarily due to recent consolidation efforts within its marketing department, according to reports from the Wall Street Journal.
- The layoffs follow Disney's recent restructuring aimed at centralizing its marketing operations and streamlining management under CEO Josh D’Amaro, who seeks to unify the company’s diverse businesses under a "one Disney" strategy.
- Disney faces multiple industry challenges, including declining theatrical revenues, reduced linear TV viewership, and lower streaming profits, alongside anticipated headwinds in international tourism affecting its theme parks.
- This round of job cuts at Disney reflects a broader trend in Hollywood, with other major studios like Sony Pictures Entertainment also announcing significant workforce reductions as part of business restructurings.
