Disney is planning to cut several thousand jobs, according to people familiar with the matter. Some managers have been asked to reduce costs by up to 20%. The move follows two earlier rounds of cuts under CEO Josh D'Amaro.
Disney is planning to cut several thousand jobs, people familiar with the matter told CNBC. The sources asked not to be named because they were not authorized to speak publicly.
Some managers at the entertainment giant have also been asked to reduce costs by up to 20%, according to the same people. Bloomberg was first to report the latest round.
Latest cuts follow April and September plans
The cuts are the latest since D'Amaro became CEO earlier this year. In April, Disney planned to cut as many as 1,000 employees, predominantly in marketing. In September, it planned to cut about 300 employees, many in human resources and technology divisions.
Executives had signaled more reductions could follow. In an Aug. 5 shareholder letter, D'Amaro and CFO Hugh Johnston wrote that the company is evaluating a variety of levers to reduce costs across the enterprise.
Disney also introduced plans in August for an early retirement program for some employees. According to Chief People Officer Sonia Coleman, writing to employees on Aug. 24: "This is one of several actions we’re taking to reshape our organization".
Peers also trim staff
Disney had about 231,000 employees at the close of fiscal year 2025, according to its annual financial report. The company is not alone in cutting. Netflix said in a memo last month that it would lay off roughly 6% of its workforce.
Skydance, the newly combined company of Paramount and Warner Bros. Discovery, is also expected to cut staff to realize $6 billion in synergies over three years.
Disney will report fiscal fourth-quarter earnings on Nov. 17.
Source: CNBC
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