NEW Report Reveals Disney Will Cut 1,000 Jobs

Disney is preparing to lay off as many as 1,000 positions in the next few weeks, the Wall Street Journal has reported.

Walt Disney Studios

People familiar with the matter advised that many of the cuts will be in the company’s recently consolidated marketing department, marking one of the first notable moves under Josh D’Amaro, the new Chief Executive Officer.

According to the Wall Street Journal, Disney has been trying to adjust to the smaller profits it earns from streaming compared to what the company used to make from linear television, in addition to diminished box office sales and competition from tech companies like Amazon and YouTube. Disney is reportedly also trying to free up money to invest in other digital businesses where growth potential may be present.

©Disney | Walt Disney Company Headquarters

Disney has laid off more than 8,000 people since former CEO Bob Iger returned in 2022 and initiated the company’s massive restructuring efforts. The upcoming layoffs were planned before D’Amaro took over, according to people with knowledge about the upcoming cuts.

Kermit, Miss Piggy, and Josh D’Amaro at the 2023 Destination D23 fan convention. ©Disney

At the end of fiscal year 2025, Disney employed 231,000 people, with around 80% working in the experiences division, including theme parks and consumer products. A majority of these layoffs have occurred in the entertainment, ESPN, and corporate operations, while theme parks and the cruise line have continued to grow.

Walt Disney Company Headquarters ©LA Times

Recently, Sony Pictures, Paramount, and Warner Bros. Discovery have cut staff, with more layoffs expected for Paramount if and when the company closes its acquisition of Warner Bros. Discovery.

©Warner Bros.

Disney has been consolidating operations to cut costs and coordinate its efforts across divisions, especially online. The company combined marketing for entertainment, experiences, and sports under one chief marketing officer, Asad Ayaz, for the first time this past January. Ayaz’s plan to reduce expenses and unify the marketing team is reportedly code-named Project Imagine.

Walt Disney Company Headquarters in Burbank

The House of Mouse is also working on combining Disney+ and Hulu staff as it continues its efforts to merge both brands into one app interface. Bain & Co. has been consulting with Disney to help strategize its cost-cutting.

©Disney

As of now, D’Amaro has not presented specific plans for reshaping Disney since taking over, but people close to the company said that one of his priorities is having different divisions collaborate more efficiently and quickly, with employees fearing layoffs would be part of those plans.

Josh D’Amaro at Destination D23, 2023 ©Disney

It’s not clear exactly when these layoffs will happen, but we’ll be on the lookout for more updates and the latest news you need to know about The Walt Disney Company. In the meantime, make sure you stay tuned to the Disney Food Blog.

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