Disney's latest round of layoffs comes as part of an extensive restructuring aimed at improving operational efficiencies amidst an evolving entertainment landscape.
Disney Unveils Additional Layoffs Amid Cost-Cutting Efforts
Disney Unveils Additional Layoffs Amid Cost-Cutting Efforts
The cultural giant prioritizes innovation while downsizing its workforce across multiple departments.
Disney has announced that it will lay off several hundred employees worldwide, primarily affecting teams in its film, television, and finance divisions. The entertainment titan is navigating challenging waters as audiences increasingly shift from traditional cable subscriptions to streaming services.
"As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses while fuelling the state-of-the-art creativity and innovation that consumers value and expect from Disney," a company spokesperson shared with BBC News.
These layoffs follow earlier reductions in staff, whereby approximately 7,000 employees were let go in 2023. This move was part of a wider strategy orchestrated by CEO Bob Iger, who aims to achieve savings of $5.5 billion (£4.1 billion). The current job cuts will affect various teams, including those in marketing, casting, development, and corporate finance, without fully dissolving any specific department.
Disney, which boasts a workforce of 233,000—over 60,000 of whom work internationally—owns a vast portfolio of entertainment brands such as Marvel, Hulu, and ESPN. The company reported a stronger than anticipated fiscal performance in May, yielding $23.6 billion in revenue for the first three months of the year, marking a 7% uptick compared to the same timeframe in 2024.
This financial growth has been attributed to a surge in new subscribers to the Disney+ streaming platform. Among its successful cinematic offerings this year are "Captain America: Brave New World" and the highly acclaimed "Snow White." Notably, the recent animated release, "Lilo & Stitch," shattered box office records during the U.S. Memorial Day weekend, accumulating more than $610 million globally since its launch in May, according to Box Office Mojo.
"As our industry transforms at a rapid pace, we continue to evaluate ways to efficiently manage our businesses while fuelling the state-of-the-art creativity and innovation that consumers value and expect from Disney," a company spokesperson shared with BBC News.
These layoffs follow earlier reductions in staff, whereby approximately 7,000 employees were let go in 2023. This move was part of a wider strategy orchestrated by CEO Bob Iger, who aims to achieve savings of $5.5 billion (£4.1 billion). The current job cuts will affect various teams, including those in marketing, casting, development, and corporate finance, without fully dissolving any specific department.
Disney, which boasts a workforce of 233,000—over 60,000 of whom work internationally—owns a vast portfolio of entertainment brands such as Marvel, Hulu, and ESPN. The company reported a stronger than anticipated fiscal performance in May, yielding $23.6 billion in revenue for the first three months of the year, marking a 7% uptick compared to the same timeframe in 2024.
This financial growth has been attributed to a surge in new subscribers to the Disney+ streaming platform. Among its successful cinematic offerings this year are "Captain America: Brave New World" and the highly acclaimed "Snow White." Notably, the recent animated release, "Lilo & Stitch," shattered box office records during the U.S. Memorial Day weekend, accumulating more than $610 million globally since its launch in May, according to Box Office Mojo.
