Several hundred employees are being laid off by The Walt Disney Company starting Monday, according to a report from Deadline. The cuts are impacting the company worldwide.
Per the outlet, citing sources familiar with the matter, the cuts primarily affect Disney Entertainment as well as the corporate financial side of the company. Marketing, filming, casting, and development will be impacted.
Most of the affected Disney Entertainment Television staff that are being let go are reportedly located in Los Angeles, the outlet said, but no teams are being completely eliminated.
For the entertainment giant, this is the fourth round of layoffs since mid-2024, and has been part of a cost-cutting process. When Bob Iger returned as CEO in 2023, he had set the goal of cutting $7.5 billion in costs. 7,000 jobs were cut that year.
In March earlier this year, there were around 200 Disney workers laid off from the corporation, comprising 6 percent of its workforce at ABC News. This followed a restructuring last October, when ABC Signature shut down and its operations were absorbed by 20th Television.
The latest cuts also follow better-than-expected Q2 earnings for the company, which was largely driven by sports as well as experiences. Last year Iger emphasized a need to increase the selling of experiences to Disney customers, with a focus on theme parks. The cuts at Disney also come as there have been cuts to staff at NBCUniversal as well, and the company is spinning off cable networks to fall under a new company named Versant.
