The Walt Disney Company has launched another sweeping round of layoffs, cutting several hundred jobs across its film, television, and corporate finance divisions this week. The reductions are part of Disney’s ongoing effort to streamline operations amid seismic shifts in the entertainment industry as audiences continue to migrate from traditional cable to streaming services.
Most of the affected positions are in marketing, publicity, casting, and development for Disney’s television and film sectors, as well as roles in corporate finance. No entire teams are being dissolved, but the cuts are widespread, impacting employees both in the U.S. and internationally.
This marks the fourth and largest wave of layoffs at Disney in the last ten months. Earlier rounds targeted ABC News, Disney’s entertainment networks, and corporate departments, with nearly,000 jobs eliminated in 2023 as part of CEO Bob Iger’s aggressive cost-cutting initiative The company’s goal: to save at least $7.5 billion as it pivots to prioritize streaming and high-quality original content.
Despite the layoffs, Disney recently reported strong financial results, with $23.6 billion in quarterly revenue—a 7% increase over the previous year. Disney’s stock saw a 21% rally after the earnings report, though shares dipped slightly to $112.43 following news of the latest job cuts.
Disney says the move is designed to enhance efficiency and maintain its creative edge in a rapidly evolving media landscape. The company employs around 233,000 people worldwide, with over 60,000 outside the U.S.
