The Walt Disney Company may be preparing another major round of layoffs. According to a new Bloomberg report, Disney is moving toward thousands of job cuts, with some managers asked to target 20% in annual cost savings.
Here’s what we know so far.
Key Details
- What: Possible thousands of job cuts across Disney
- Target: Some managers asked to cut 20% in annual costs
- How: Job eliminations and expense reductions
- Source: People familiar with the matter, speaking anonymously
- Disney’s response: A representative declined to comment
Who Could Be Affected
Disney’s operations include theme parks, TV networks, and its movie studio. The report says some areas will be affected disproportionately, but it doesn’t specify which ones.
Where Savings May Be Reinvested
CEO Josh D’Amaro reportedly plans to put part of the savings back into:
| Area | Examples |
|---|---|
| Content | Film and TV programming |
| Innovation | Technology |
| Experiences | Theme parks and Disney Cruise Line |
Financial Goals
Disney has promised double-digit growth in adjusted earnings per share for the current fiscal year. Cost-cutting is one tool companies use to reach targets like that.
A Pattern of Cuts
This isn’t the first round of reductions. In recent years, Disney has:
- Cut billions of dollars in costs
- Eliminated thousands of positions
- Made reductions in every division
Divisions previously affected:
- ABC
- Pixar Animation Studios
- ESPN
- Film studios
- Disney Experiences
Company size: About 231,000 employees worldwide at the end of the last fiscal year.
Recent Timeline
| Date | Event |
|---|---|
| October 1 | Wall Street Journal reports planned restructuring of Disney’s TV division and cuts in legal and global affairs |
| October 1 | Dana Walden addresses layoffs at Bloomberg Screentime conference |
| Late October | Layoffs reported at Walt Disney Imagineering |
| November 2 | Bloomberg reports thousands of potential cuts |
What Dana Walden Said
At the Bloomberg Screentime conference in Los Angeles, Disney President and Chief Creative Officer Dana Walden was asked by Lucas Shaw why Disney seems to restructure every six months.
Her response included:
- Calling it “the snarkiest possible version of this question”
- Saying Disney is not firing people every six months
- Pointing out that layoffs have also happened at Warner Bros. Discovery and Paramount
She added: “there is a need to constantly evaluate how you’re structured and how big is the organization. Technology set their sights on our business and we must survive and thrive and grow, and that’s what we’re going to do.”
Industry-Wide Cuts
Other entertainment companies cutting jobs include:
- Netflix
- Sony Pictures Entertainment
- Paramount
- Warner Bros.
Reasons behind industry layoffs:
- Declining traditional TV revenue
- Slower streaming subscriber growth
- More viewers on social media and online video
- Competition from Amazon and Apple
What It Means for Fans
For fans, Disney layoffs often feel personal. The people behind the movies, shows, and parks are what make Disney special.
It’s possible to love Disney’s parks and stories while still feeling frustrated with corporate decisions. Both feelings can exist at once.
Final Thoughts
Details are still limited, and Disney hasn’t confirmed the report. But if accurate, thousands of employees and their families could be affected.
We’ll share updates as more information becomes available.
