Disney Plans Layoffs Under New CEO D’Amaro
Disney (NYSE: DIS) is preparing to cut up to 1,000 jobs in the coming weeks as part of a broader restructuring effort under newly appointed CEO Josh D’Amaro, according to a report by The Wall Street Journal.
Job Cuts Focus on Marketing Division
A significant portion of the layoffs is expected to impact Disney’s marketing department, which has already been scaling down in recent years. Sources familiar with the matter indicate that the company is aiming to streamline operations and reduce costs in less efficient areas.
Ongoing Challenges in Streaming and Box Office
The planned job cuts come as Disney faces continued pressure on multiple fronts. The company has been dealing with weaker profitability in its streaming segment, alongside softer box office performance and intensifying competition from other streaming platforms.
Continued Restructuring Efforts Since 2022
Disney has already reduced its workforce by more than 8,000 employees since 2022, when Bob Iger returned as CEO and initiated a major restructuring plan. The latest layoffs appear to be a continuation of those cost-cutting measures.
Layoff Plans Preceded CEO Transition
Reports suggest that preparations for this round of layoffs were already underway before Josh D’Amaro officially took over as CEO earlier this year, indicating that the restructuring strategy is part of a longer-term plan.
