In response to the shifting landscape of media consumption, Disney is making hundreds of layoffs, affecting workers across its film, television, and finance divisions.
Disney Announces Additional Layoffs Amid Cost-Cutting Measures
Disney Announces Additional Layoffs Amid Cost-Cutting Measures
The entertainment giant is reducing its workforce by several hundred roles across multiple departments.
The recent job cuts represent a continuation of Disney's strategy to streamline operations, especially as audiences pivot from traditional cable TV to streaming services. A spokesperson noted, "As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses while fueling the state-of-the-art creativity and innovation that consumers value and expect from Disney." This round of layoffs follows earlier cuts made in 2023, where around 7,000 employees were let go as part of CEO Bob Iger's plan to save $5.5 billion (£4.1 billion).
The current layoffs will affect various teams, including marketing, casting, and development, along with personnel in corporate finance. Nonetheless, the company emphasized that no teams would be entirely eliminated. Disney, based in California, boasts a workforce of 233,000, with over 60,000 employees stationed outside the United States.
With a diversified portfolio that includes franchises like Marvel, Hulu, and ESPN, Disney reported unexpectedly strong earnings in May, achieving overall sales of $23.6 billion during the first quarter of the year—a 7% increase compared to the same period in 2024. This growth was attributed in part to a surge in new subscribers to the Disney+ streaming platform.
This year, Disney has launched several new films, including "Captain America: Brave New World" and "Snow White." While the live-action “Snow White” did not meet box office expectations due to negative reviews, Disney’s “Lilo & Stitch” achieved remarkable success, breaking box office records during Memorial Day weekend and earning over $610 million worldwide since its May release, according to Box Office Mojo.
The current layoffs will affect various teams, including marketing, casting, and development, along with personnel in corporate finance. Nonetheless, the company emphasized that no teams would be entirely eliminated. Disney, based in California, boasts a workforce of 233,000, with over 60,000 employees stationed outside the United States.
With a diversified portfolio that includes franchises like Marvel, Hulu, and ESPN, Disney reported unexpectedly strong earnings in May, achieving overall sales of $23.6 billion during the first quarter of the year—a 7% increase compared to the same period in 2024. This growth was attributed in part to a surge in new subscribers to the Disney+ streaming platform.
This year, Disney has launched several new films, including "Captain America: Brave New World" and "Snow White." While the live-action “Snow White” did not meet box office expectations due to negative reviews, Disney’s “Lilo & Stitch” achieved remarkable success, breaking box office records during Memorial Day weekend and earning over $610 million worldwide since its May release, according to Box Office Mojo.
