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Disney eyes thousands of layoffs as managers are told to cut costs 20%
The Walt Disney Co. is preparing to cut thousands of jobs, with managers asked to reduce costs by 20%, Bloomberg News reported, as CEO Josh D'Amaro faces pressure from AI, weaker box office revenue, streaming competition and slower theme park attendance abroad.
The Walt Disney Co. is considering thousands of layoffs and has asked managers to cut costs by 20%, Bloomberg News reported on Monday, in a restructuring push under Chief Executive Josh D'Amaro.
The effort comes as D'Amaro navigates challenges including the growing use of artificial intelligence, weaker box office revenue, intensifying competition from streaming rivals and a slowdown in international attendance at Disney's theme parks, according to the report. Some Disney businesses are expected to bear a larger share of the cuts, and D'Amaro aims to reinvest part of the savings in film and TV programming, technology, theme parks and cruise ships.
The report did not say how many jobs could be affected. Disney employed about 231,000 people at the end of fiscal 2025. Disney did not immediately respond to a Reuters request for comment.
The company has cut jobs repeatedly in recent years. It laid off a few hundred employees in its human resources and technology divisions in September, cut about 1,000 positions in April and eliminated 7,000 roles in 2023 as part of a $5.5 billion cost-saving drive under former CEO Bob Iger. Media companies including Netflix and Skydance, which acquired Warner Bros. Discovery earlier this year, have also cut jobs.
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