Disney weighs sweeping layoffs, with thousands of jobs at risk as CEO Josh D'Amaro targets 20% cost cuts
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Walt Disney is considering cutting thousands of jobs to save costs, Bloomberg News reported on Monday.
- ✓CEO Josh D'Amaro asked managers to target 20% in annual savings amid weaker box office revenue and streaming competition.
- ✓The company plans to reinvest these funds into film, TV programming, and its theme parks.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Synopsis
Walt Disney is reportedly considering cutting thousands of jobs as part of a cost-saving restructuring initiative. The company's leadership has requested managers to identify 20% in annual cost savings. This decision follows challenges including reduced box office revenue and increased competition in streaming. Disney aims to reallocate some of the savings into film, TV programming, and theme park ventures.
Walt Disney is considering cutting thousands of jobs and has asked some managers to target 20% in annual cost savings, Bloomberg News reported on Monday, citing people familiar with the matter.
The reported restructuring effort comes as CEO Josh D'Amaro navigates challenges including the growing use of AI, weaker box office revenue, intensifying competition from streaming rivals and a slowdown in international attendance at the entertainment company's theme parks.
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The Economic Times
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