Disney Cuts Hundreds of Jobs in Latest Workforce Reduction

The Walt Disney Company has initiated another round of layoffs, cutting hundreds of employees, primarily from its technology and human resources departments. The reductions were reportedly announced on Tuesday, marking a significant move by new CEO Josh D’Amaro.

Sources indicate that the company’s TV and motion picture divisions have not been affected by this latest staff reduction. This move signals a broader restructuring effort underway at the entertainment giant.

The company has previously undergone significant workforce adjustments, including substantial layoffs in early 2023 that affected approximately 7,000 positions as part of a cost-saving initiative. Those earlier cuts also targeted various divisions across the company.

Walt Disney Co. signage on the floor of the New York Stock Exchange.

These recent layoffs occur as Disney navigates a strategic shift under D'Amaro's leadership, aiming to streamline operations and potentially enhance profitability. The company's stock has seen fluctuations, with some Wall Street analysts expressing optimism about D'Amaro's growth strategy.

The front entrance and sign of the Walt Disney Studios and The Walt Disney Company corporate headquarters in Burbank, California.

Further details regarding the specific number of employees impacted and the full scope of D'Amaro's restructuring plans are expected to emerge as the company continues its operational adjustments.